Italy Electric Car Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at 4.6% from 2020 to 2027, reaching US$ XX Mn.
Italy Electric Car Market Drivers & Restraints:
Out of an entire number of more than 50 Mn vehicles on the street in Italy at the end of 2018, about 6,000 were battery electric passenger cars while about 120,000 were petrol & diesel hybrid passenger cars. In 2018, total new passenger car recordings raised by about 16 percent compared to 2017, reaching a total of 1,824,568; new BEV passenger car recordings slowed down by about 5.3 percent compared to the last year, while new plug-in hybrid electric passenger car recordings raised by about 63 percent; fully, new electrically chargeable passenger cars raised by about 20.7 percent. Also, new hybrid passenger car recordings improved significantly for 2016, with a rate of 47.2 percent. New other alternative fuel passenger car recordings had a major reduction by about 20.7 percent.
Italy’s Tiny EV Market Doubles Again:
It has taken a long time, but Italy’s electric car market is finally starting to take off. Official numbers as confirmed by MMR around 10,566 battery-electric cars were sold in the Bel Paese in the twelve months of 2019, doubling 2018 sales & combining a trend of exponential growth that began two years ago. Italy is the fourth leading car market in Europe after Germany, France, & the UK. With nearly 2 Mn cars sold yearly, an unbelievable automotive history, & Italy’s sustainability licenses from renewable electricity to green buildings to smart grid technology one would expect this to be the flawless market for early EV adoption. Italy’s electric car market is still very small, with ~10,000 Electric Vehicles accounting for only 0.5 percent of the nation’s total car sales in 2019. But there are numerous marks for optimism, trends which show that Italy & other key countries will soon be shifting away from very low Electric Car Market share into…