Showing posts with label Electric used cars Market Italy. Show all posts
Showing posts with label Electric used cars Market Italy. Show all posts

Tuesday, November 26, 2019

Italy Used Car Market Research Report: Ken Research

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 the 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 challenges, 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.
Italy Used Car Industry
Market Overview and Size
Italy used car market was observed to grow with a volatile growth pattern in the review period 2013-2018. Factors such as the shift from a traditional sales channel to E-commerce channel, the 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, an 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 a 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 the 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, Skodaand 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 Italy used car 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 kilometers 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 the 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 Italy used cars market was observed to be highly fragmented along with the presence of a large number of OEM certified dealerships, local dealers, multi-brand dealers and individual sellers. The major companies in 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 the number of dealers, marketing initiatives, certification, margin, price, after-sales, lead generation and types of warranty.
Future Outlook and Projections
Italy used car market is 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 to the growth of the used car market in the next few years.
Key Segments Covered:-
By Type of Market Structure:
Organized Market
Multi-brand Dealerships
OEM Certified Dealerships
Unorganized Market
Customer to Customer
Online Sales
Local Dealers
By Car Make:
Fiat
Volkswagen
Renault
Ford
BMW & Mini
Opel
Mercedes
Audi
Toyota
Citroen
Nissan
Skoda
Others (Peugeot, Jeep, Dacia, Hyundai, Lancia, Kia, Alfa Romeo, Suzuki, MCC, Mini, Seat, Volco,Land Rover, Mazda, Jaguar, Honda, Mitsubishi, Porsche, Subaru, Maserati, Ssangyong, Dr, Mahindra, Ferrari, Lotus, Lada and rest)
By Year of Ownership:
<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
Above 120,000
By Type of Used Cars:
Economy/Hatchback
MPV’s/Sedan
SUV’s
Key Target Audience
Offline Dealers
Online Portal
Organized Multi Brands Dealers
OEM Certified Dealerships
Online Portal
Private Equity and Venture Capitalist
Industry Associations
OEM Manufacturers
Automotive Manufacturers
Car Auction Companies
Time Period Captured in the Report:-
Historical Period - 2013-2018
Forecast Period – 2019-2023
Companies Covered:-
Online Dealerships:
True Car
Autoscout24
Bakeca.it
Alvolante.it
Autorola Marketplace
Cargurus
Offline Dealerships:
Auto Torino
Denicar FCA
Birindelli Auto Srl
Mocautogroup
GoodBuyAuto
Autoquattro
Schiatti Car Srl
Auto 500
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
For More Information On The Research Report, Refer To Below Link:-
Related Reports by Ken Research:-
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Ken Research
Ankur Gupta, Head Marketing & Communications
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