The numbers speak for themselves: Registrations in Europe in the first half of the year are down by as much as 18.4% compared to the period before the pandemic. A serious alarm bell that cannot be ignored because in the same period the gross domestic product of the EU area has recovered pre-crisis levels, while the automotive sector is significantly behind.
Such a deep crisis, obviously, is due to several factors. But one, in particular, is the main suspect. And that is the high price lists: car prices have increased sharply since 2019 and companies, including rental companies, are supporting sales, while private individuals are unable to cope with the price increases. Thus in Italy, but also in the rest of the Union, the replacement of cars at the end of their life is slowing down with heavy consequences on safety and the impact on the environment.
The Centro Studi Promotor is therefore right to speak of delicate prospects for the European market. Because the transition to electric is also holding back purchases, which determines strong uncertainties in the choice of which car to buy. In fact, a survey in Spain shows that 48% of motorists who intend to replace their car delay the decision because they are tempted to switch to electric, but do not feel safe.
“The ACEA data – explains the CSP – highlight that the share of electric cars in the first half of the year fell to 13.9% compared to 14.2% in the same period last year. And this with a significant drop also in the largest car market in the area, that of Germany, where the share of electric cars went from 15.8% in the first half of 2023 to 12.5%. In Italy, the share of electric cars was low until the latest incentives came into force (June 3), but with the incentives in June it doubled from 4.4% in June 2023 to 8.4%. The problem is what will happen when the effects of the incentives end”.
In short, clarity is needed. And since this is the main thing that is missing, the prospects for the European car market are now really worrying.
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