Italy March 2024: Market down 3.7%, BEVs off -34.5%

Tesla sales crash -49.7% year-on-year in Italy in March.

The Italian new car market decreases -3.7% year-on-year in March to 162,083 units with a Q1 2024 result up 5.7% to 451,261. This is 16.1% below the pre-pandemic result of Q1 2019. Private sales skid -5.5% to 81,531 and 49.7% share vs. 50.6% a year ago, self-registrations grow 26% to 18,894 and 11.5% share vs. 8.8%, long term leases sink -27.1% to 34,461 and 21% share vs. 27.7% and short-term rentals surge 65.7% to 20,392 and 12.4% share vs. 7.2% in March 2023. Over Q1, private sales gain 7% to 254,798 and 55.7% share vs. 55% over the same period a year ago, self-registrations are up 15.1% to 43,962 and 9.6% share vs. 8.8%, long term leases drop -14.8% to 95,210 and 20.8% share vs. 25.8% last year, short term rentals soar 92.4% to 38,205 and 8.4% share vs. 4.6%. 

As far as propulsion is concerned, petrol is up 6.4% to 51,441 and 31.4% share vs. 28.4% in March 2023, diesel implodes -28% to 24,866 and 15.2% share vs. 20.3%, LPG edges down -3.2% to 12,519, HEVs defies the market with a 8.9% increase to 63,905 and 39% share vs. 34.5% a year ago and PHEVs sink -22.6% to 5,688 and 3.5% share vs. 4.3%. The most striking result of the month is BEVs imploding -34.5% to just 5,367 sales and 3.3% share vs. 4.8% last year. Year-to-date, petrol is up 20.7% to 141,592 and 31% share vs. 27.1% over Q1 2023, diesel is down -17.8% to 69,645 and 15.2% share vs. 19.6%, LPG is up 6.7% to 42,290 and 9.2% share, unchanged. HEVs step up 13.2% to 175,077 and 38.3% share vs. 35.8% whereas PHEVs skid -24.1% to 14,500 and 3.2% share vs. 4.4% and BEVs lose -18.5% to 13,406 and 2.9% share vs. 3.8% over Q1 2023.

For once local behemoth Fiat (-2.1%) beats the market even though it is in negative to 10.5% share, its lowest so far this year. Volkswagen (+14%), Toyota (+31.2%) and Dacia (+5.4%) all post very satisfying results below. Ford (-24.1%), Peugeot (-21.1%), Jeep (-11.7%) and Citroen (-5.8%) all lose share year-on-year whereas BMW (+5.5%) and Renault (+4.9%) progress. Further down, MG (+66.9%), Volvo (+55.1%), Porsche (+33.3%), Honda (+20.4%), Mercedes (+16.3%) and Skoda (+14.3%) all impress. Notice also Tesla (-49.7%) losing almost half its sales compared to March 2023. We welcome BYD at #43.

Over in the models lane, the Fiat Panda (+19%) consolidates its pole position with 7.3% share, distancing the Dacia Sandero (+35.1%) as it has been the case for the past three months. The Lancia Ypsilon (-4.2%) jumps back onto the podium at #3, knocking the Citroen C3 (+15.5%) off to #4. The Toyota Yaris Cross (-17.9%) remains in 5th place above the Toyota Yaris (+133.8%) showing great health. The VW T-Roc (+27.8%) is back inside the Top 10 at #7, while the Jeep Avenger (+274.9%) celebrates one year in market at #8 vs. #6 year-to-date. The Peugeot 208 (+27%) and Renault Clio (+45%) close the Top 10 in strong fashion.

Previous month: Italy February 2024: Fiat Panda, Dacia Sandero and Citroen C3 top market up 12.8%

One year ago: Italy March 2023: Toyota Yaris Cross on podium, Peugeot 3008 #8, sales up 40.8%

Full March 2024 Top 50 All brands and Top 50 models below.