The Western European vehicle market dipped 3.8% in December, following sixteen months of consecutive increase. However, the year-end balance remains positive. In actuality, the overall balance of registrations in 2023 ends at 12,847,481, up 13.7% from 2022 but down as much as 18.7% from 2019, the year preceding the epidemic and the first goal to be met for a return to normalcy. The 2023 result is primarily due to demand from enterprises that have supported the industry by being able to sustain large increases in vehicle prices. The strong inclination to buy automobiles from enterprises has compensated for the strong weakening in demand from individuals, which has been hampered above all by price hikes, which in Italy increased by 34.3% between 2019 and 2022 and will continue to rise in 2023. Because of the stimulus package, electric vehicle registrations in the area increased from 13.9% in 2022 to 15.7% in 2023. However, the expiration of incentives has had a particularly significant impact in several nations, such in Germany, where the share of electric vehicles decreased from 33.2% in 2022 to 22.6% as of December. However, in other nations, notably Italy, the share does not surpass 5%.
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