Home » The used car boom? A question of portfolio and incentives

The used car boom? A question of portfolio and incentives

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ROME – Just over 1 in 10 Italians declare that they want to change their car by the end of the year. A growing share to do so will turn to dealers to buy a used of the latest generation, for economic reasons or to be able to buy a car of a higher category than the current one. If the Government confirms the incentives for used vehicles provided for in the Sostegni Bis Decree, many will consider their use to replace their car with more than ten years of service.

These are the main data and trends that emerge from the new survey “Used cars, what do you think?”, Conducted by Areté (a leading company in strategic consulting) in July to investigate the car purchase intentions of Italians in the field coming months and their feeling with the recently registered used car (Euro 5 and Euro 6).

A starting point is clear: even with all of Italy in the white zone for several weeks and with the gradual reduction of the share of teleworking workers, the personal car remains the preferred means of transport for Italians, indicated by 71% of the sample. Two-wheelers with bicycles and scooters / motorcycles are consolidated, mainly used by an overall 10% of the population. Public transport stops at 8% of preferences, while the alternatives in sharing (car, bike, scooter) do not exceed 3%.

New versus used. What will the Italians choose in the coming months?

16% of the sample declare that they want to replace their car by the end of 2021, 30% will wait at least next year and a significant 34% will consider this option only in the years to come. A further 21% have recently bought it and therefore do not think about it or do not use it to move around.

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Among those preparing to replace the car, 4 out of 10 Italians say they want to buy a used car rather than a new one. There are several reasons for this choice: firstly, the economic motivation (indicated by 34% of the interviewees), then the desire to buy a car of a higher category than the current one at an advantageous price (22%).

Among other reasons: fears of theft and damage to a new car, the desire to have a novice driver drive the car and the preference for a discontinued model.

On the power supply front, among those who will rely on used vehicles, the majority of those who choose the internal combustion engine remain (51%); 40% will prefer the used hybrid and 10% the electric. In the last two cases, the choice is mainly driven by the desire not to pollute and to save on consumption, fuel and maintenance.

On the other hand, for more than 50% of the interviewees, potential buyers of the new one are driven by the search for vehicles with alternative engines to traditional ones and with the latest technologies on board (ADAS and devices). 24% say they want to use the new to take advantage of the incentives and 15% because they do not trust the used.

An interesting starting point, also in light of the latest regulatory changes contained in the Sostegni Bis Decree (the provision also provides for 40 million euros in incentives for the latest generation used vehicles following the scrapping of a car with more than 10 years of seniority), concerns incentives: 8 out of 10 Italians intend to evaluate their use to buy a used car.

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Where do you buy the used car?

But where do you prefer to buy the used car? A growing share says they are ready to do it online, but as long as the offer is particularly advantageous. In general, 8 out of 10 respondents prefer to go to their trusted dealer, 10% would also trust a private individual, 7% will turn to the offer of rental companies.

“The study – underlines Massimo Ghenzer, President of Areté – provides an interesting insight into the feeling between Italians and used cars. Thanks to the steps forward made by the automotive industry in terms of safety and reducing emissions, the latest generation used cars (Euro 6, hybrid and electric) can play a strategic role in the fight against the rejuvenation of our fleet. In this sense, a positive signal has recently arrived from the Government which is evaluating an ad hoc allocation to incentivize these vehicles, which are much more affordable for Italians than new electric vehicles, today still reserved for a limited segment of the population “.

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