Italy’s April Car Registrations Surge 11.6% Amidst Strong Chinese Entries
April 2024 Car Sales Performance and Market Trends
Overall Market Growth
MILAN, May 4 (Reuters) - New car registrations in Italy rose in April by 11.6% year-on-year to 155,210 vehicles, transport ministry data showed on Monday.
In January-April, registrations were up by 9.8% year-on-year, to 640,083 units.
Key Automaker Performance
Stellantis Leads the Market
Italian market leader Stellantis <STLAM.MI>, whose brands include Fiat, Jeep, Peugeot and Chinese joint venture Leapmotor, outperformed the market, with April sales up 14.4%, according to Reuters calculations.
The automaker's market share stood at 31.25% last month, according to the same calculations.
Chinese Brands' Rapid Expansion
BYD's Impressive Growth
Chinese groups continued to make strong inroads in April, with BYD's <002594.SZ> year-on-year sales up by 171.7% to 4,572 units, and Chery's <9973.HK> Omoda/Jaecoo brands up 310.8% to 3,857 units.
Chery's Omoda/Jaecoo Brands
Tesla's Market Performance
Tesla's <TSLA.O> March sales were down by 5.4% to 422 units.
Reporting Credits
(Reporting by Gianluca Semeraro, editing by Cristina Carlevaro)
