Italy Automotive Industry
Overview- The automotive sector is one of Italy’s major industries. In 2019, turnover was almost €106 billion (about $119 billion), which accounts for 11% of Italy’s manufacturing turnover and 6.2% of Italy’s GDP.......While sales of both LPG and methane-fueled vehicles substantially decreased, there was a sharp growth in sales of hybrid and electric cars. Most recent data (July 2021) shows that the market is still weak (110,282 units sold, down 28.1% compared to 2019, and down 19.4 compared to 2020. Electric vehicles were 4.6% of the market, plug-in hybrids were 5.7% and full hybrid vehicles were 29.4% of the market. Hybrid car sales exceeded gasoline sales (27.4%) and diesel (22.7%.)
Incentives for purchasing and limits on the entry of traditional cars into city centers are helping drive the adoption of hybrid and electric vehicles. The Ministry of Economic Development offers grants for purchasing low emission vehicles, which are valid both for cars and light commercial vehicles.
Source: https://www.trade.gov/country-commercial-guides/italy-automotive-sector#:~:text=2021%2D10%2D29-,Overview,and%206.2%25%20of%20Italy's%20GDP
Incentives for purchasing and limits on the entry of traditional cars into city centers are helping drive the adoption of hybrid and electric vehicles. The Ministry of Economic Development offers grants for purchasing low emission vehicles, which are valid both for cars and light commercial vehicles.
Source: https://www.trade.gov/country-commercial-guides/italy-automotive-sector#:~:text=2021%2D10%2D29-,Overview,and%206.2%25%20of%20Italy's%20GDP
