In June 2024, Italy witnessed a substantial increase in electric vehicle (EV) registrations, driven by the implementation of the new Ecobonus incentive. A total of 13,285 new full electric vehicles were registered, reflecting a 115.8% increase compared to June 2023. The market share of electric vehicles rose to 8.3%, up from 4.4% in the same period last year.

For the first half of 2024, electric vehicle registrations in Italy totaled 34,709, marking a 6.2% increase from the same period in 2023. This sustained growth maintained a market share of 3.9%, consistent with the first six months of the previous year. As of June 30, the total number of electric vehicles on Italian roads reached 251,023.

The increase in registrations highlights the impact of the new incentives, indicating a release of pent-up demand. The full effect of orders placed under the new Ecobonus is expected to manifest in the coming months. However, the overall annual figures for 2024 are anticipated to be similar to those of 2023.

The introduction of new entry-level electric vehicle models is expected to further support the adoption of electric vehicles in Italy, aligning with trends observed in other European markets such as France, Germany, and the United Kingdom, which reported battery vehicle market shares of 17%, 12.6%, and 17.6% respectively in May 2024.

Continued growth in the Italian electric vehicle market will depend on effective planning and implementation of policies to incentivize EV adoption, including a review of company fleet taxation to provide a stable and predictable environment for consumers and businesses.

For a detailed market analysis of June, please refer to the original article from E-Motus.

Original article source: E-Motus