Positive month of February 2024 for the used car market in Italy. According to the latest UNRAE report, there was a growth of 13.1% with 464,210 property transfers compared to 410,449 in 2023 (-1.9% compared to 2019, the pre-pandemic year). Net transfers increased by 13.4% and mini-transfers by 12.7%. Looking at the first 2 months of the year, an increase of 14.6% was recorded for this market with 910,250 total passages compared to the 794,176 in January-February 2023.
CARS OVER 10 YEARS OLD AT 48.2%
Taking a closer look at the numbers for the month of February 2024, on the power frontin first place there is always the diesel with a share of 45.4%. Next we find the petrol models at 39.1% and then the hybrids with 7%. In the ranking we still have LPG at 4.9% and methane at 2.1%. Net BEV and plug-in car transfers cover 0.6% and 0.8% of the total for the month, respectively.
Exchanges between individuals/companies in February represented 56.8% of all changes of ownership. 39% for those from operator to end customer. 3.5% share for trade coming from km0. Just 0.8% share for trades coming from rental. Lombardy once again confirms itself in first place with 16.3% of transfers, followed by Lazio at 9.5% and Campania at 9.2% share.
Going to see theaverage age of the cars subject to ownership transfer, cars more than 10 years old achieved a share of 48.2%. Share of 16.5% for cars from 6 to 10 years old and 13.1% for those from 4 to 6 years old. Share of 6.7% for fresher cars from 0 to 1 year. The share of cars from 2 to 4 years old reaches 11.5% in February and that of cars from 1 to 2 years old reaches 4%.
MINIVOLTURES
Moving on to minivolutions, in February the share of private individuals or other companies who trade in their cars was 57.9%. Instead, the share of car collections by operators was 27.1%. Retired cars coming from long-term rental can count on a 10.3% share; 2.6% for cars coming from short-term rental. Finally, the share of cars coming from Km0 stood at 2.6%.
On the fuel front, diesel cars obtain a share of 49.9%, with petrol models at 31.8%. Followed by hybrids at 8.4%, LPG cars with 5.5% and methane cars with 2.2%. Plug-ins and BEVs come in at 1.1% and 1% respectively.
Finally, speaking of the average age of the cars subject to mini-transfers, those with more than 10 years are 37.9% of the total. The 6 to 10 year range reaches 20% in the month, while the 4 to 6 year range gets a 15.3% share. Cars from 2 to 4 years old obtain a 15.2% share, while from 1 to 2 years old they reach 4.5% in the month.
