Italy’s Car Market Grows 7.6% in May 2024, Boosted by Stellantis and Chinese Brands
Overview of Italy’s Car Market Performance in May 2024
Monthly and Year-to-Date Registration Figures
MILAN, June 1 (Reuters) - New car registrations in Italy rose in May by 7.6% year-on-year to 150,096 vehicles, transport ministry data showed on Monday.
In January-May, registrations were up by 9.4% from the same period last year, to 790,301 units.
Performance of Key Automakers
Stellantis Leads the Market
Italian market leader Stellantis, whose brands include Fiat, Jeep, Peugeot and Chinese joint venture Leapmotor, outperformed the market, with May sales up 11%, according to Reuters calculations.
The automaker's market share stood at 28.8% last month, according to the same calculations.
Chinese Brands Gain Momentum
Chinese groups continued to make strong inroads in May, with BYD's year-on-year sales up by 209.5% to 6,019 units, and Chery's Omoda/Jaecoo brands up 302.3% to 3,975 units.
Other Notable Market Movements
Tesla’s Performance
U.S. electric vehicles-maker Tesla's May sales were down by 23.5% to 654 units.
(Reporting by Sara Rossi, editing by Gavin Jones)
