Italy Used Car Market Outlook to 2023

The report titled “Italy Used Car Market Outlook to 2023 - Surge in Demand for Used Cars Backed by Improved Quality and Inspection of Used Cars” provides a comprehensive analysis of used car market in Italy. The report focuses on overall market size in terms of sales volume of used cars; Italy used car market segmentation by Market Structure (Organized and Unorganized market) both in terms of GTV, By Organized Market (Multi-brand Dealerships and OEM Certified Dealerships), By Unorganized Market (C2C, Online Sales and Local Dealers), By Car Make (Fiat, Volkswagen, Renault, Ford, BMW &Mini, Opel, Mercedes, Audi, Toyota, Citroen, Nissan, Skoda and others), By Year of Manufacture (<2000, 2000-2002, 2003-2005, 2006-2008, 2009-2012, 2013-2018), By Kilometers Driven (Less than 5,000, 5,000-20,000, 20,000-50,000, 50,000-80,000, 80,000-120,000 and above 120,000) and By Type of used cars (Economy/Hatchback, MPV’s/Sedan and SUV’s). The report also covers the overall comparative landscape, trends and growth drivers, issues and challenge, market share in terms of sales volume, strengths and weakness and government regulations. The report concludes with future projections and analyst recommendations highlighting the major opportunities and cautions.

Market Overview and Size

The Italy used car market was observed to grow with a volatile growth pattern in the review period 2013-2018. Factors such as shift from traditional sales channel to E-commerce channel, surge in the demand for younger used cars, easy availability of financing options, acceptance of electric and hybrid used cars and others have helped the used car industry to grow in Italy in terms of sales volume.

Market Segmentation

By Market Structure (Organized and Unorganized): The organized segment was observed to dominate the used car industry both in terms of Gross Transaction Value (GTV) as well as sales volume. The organized used car market is leading in Italy owing to the services provided by these dealerships such as used car certifications, inspection of the used car, free services, car refurbishing, offer documentation regarding the stringent inspection process, the transfer of ownership and the trust on these dealerships.

By Organized Market (Multi-brand Dealerships and OEM Certified Dealerships): The multi-brand dealerships were observed to dominate the organized used car market as multi-brand used car dealers have larger presence in the country along with a wider brand portfolio available with them which helps consumers in comparing different brands and models.

By Unorganized Used Car Market (C2C, Online Sales and Local Dealers): The Customer to customer segment dominated the unorganized used car market with a significant market share followed by on local dealerships and online sales. The customer to customer segment dominated the market owing to the lack of trust of customers upon used car dealerships and low presence of dealerships in rural areas of the country.  

By Car Make (Fiat, Volkswagen, Renault, Ford, BMW &Mini, Opel, Mercedes, Audi, Toyota, Citroen, Nissan, Skoda and others): The most preferred used car brands in Italy were observed to be Fiat, Volkswagen, Renault, Ford, BMW &Mini followed by Opel, Mercedes, Audi, Toyota, Citroen, Nissan, Skoda and others. The market share of the new car sales of the mentioned brands is high due to which customers have established a trust factor with these brands.

By Year of Manufacture (<2000, 2000-2002, 2003-2005, 2006-2008, 2009-2012, 2013-2018): The used cars manufactured in the years from 2013 to 2018 have recorded the highest market share in the Italy used cars space in 2018 owing to the surge in demand for younger used cars. The segment was followed by cars manufactured between 2009 to 2012 segment.

By Kilometers Driven (Less than 5,000, 5,000-20,000, 20,000-50,000, 50,000-80,000, 80,000-120,000, above 120,000): The used cars driven above 120,000 kilometer in Italy were recorded with the highest market share followed by 80,000-120,000 kilometer. Customers in Italy prefer the used cars driven above 120,000 kilometer owing to the low price of these cars. The customers choose the 5,000-20,000 km driven used cars so as to shun away from penalty of emission norms.

By Type of Used Cars (Economy/Hatchback, MPV’s/Sedan and SUV’s): Economy and Hatchback recorded the highest sales of used cars in 2018, contributing to a massive market share followed by SUV’s and MPV’s/Sedan. The young individuals ranging from 22-28 years in Italy prefer to purchase these cars due to a constraint budget.

Competitive Landscape

Competition within the Italy used cars market was observed to be highly fragmented along with the presence of large number of OEM certified dealerships, local dealers, multi-brand dealers and individual sellers. The major companies in the offline Italy used car market include Auto Torino, Denicar FCA, Birindelli Auto Srl, Mocautogroup, GoodBuyAuto, Autoquattro, Schiatti Car Srl, Auto 500 and others. The major companies in the online used car market include True Car, Autoscout24, Bakeca.it, Alvolante.it, Autorola Marketplace, Cargurus and others. Major competing parameters include number of dealers, marketing initiatives, certification, margin, price, after sales, lead generation and types of warranty.

Future Outlook and Projections

The Italy used car market in anticipated to grow at a positive growth rate with new entrants’ business growth. Acceptance of Electric and Hybrid used cars in Italy along with rising demand for younger used cars will augment the used car market of the country. Simplification of Procedure for purchasing a used car would also contribute in the growth of the used car market in next few years.

Key Topics Covered in the Report

• Italy Used Car Market Overview and Genesis
• Italy Used Car Market Supply Chain
• Business Model Prevalent in Italy Offline Used Cars Market
• Italy Used Car Market Size by GTV and Sales Volume
• Italy Used Car Market Segmentation
• Snapshot on Italy Used Car Auction Market
• Government Regulations in Italy Used Car Market
• Trends and Development in Italy Used Car Market
• Issues and Challenges in Italy Used Car Market
• Snapshot on Italy Online Used Cars Market
• Competition Scenario in Italy Offline Used Cars Market
• Italy Used Car Market Future Outlook and Projections, 2019-2023F
• Analyst recommendations
• Success Case Studies in India Used Car Market-OLX