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Golden August for the automotive market

Rising sales for the automotive market

The automotive market has roaring engines! Italian consumers are once again so willing to spend that in August there was an increase in purchase intentions, a good 18.7% compared to the previous month. The automotive market has benefited above all, whose customers have shown willingness and strength to invest thanks also to numerous incentives.

Automotive market august 2020 - VRM SPA
Findomestic Monthly Observatory, created by the consumer credit company of the Bnp Paribas Group with Eumetra.

The data provided by the Findomestic observatory relating to August 2020 show an increase of 11.7% in the purchase of cars and 16.6% of motorcycles. In general, they registered significant growth rates for the entire sector. Among the reasons for this recovery in the automotive market is certainly the willingness of Italians to use their own means of transport, in a situation that is still uncertain.

In luxury, e-commerce sales win

The sector linked to luxury and fashion is also moving, especially as regards the market linked to e-commerce sales. One of the main trends is the buying-viewing interaction of social media content. At the end of April it reached peaks of up to 144% more than in 2019, followed by a predictable and natural decline in the post lockdown months. However, a boom year for online for operators who have shown themselves to be more reactive on these channels.

Automotive market - luxury - VRM SPA

Faced with an ever higher demand, the VRM SPA Group has been able to maintain a high and efficient level of production even during the entire month of August. These are important results for VRM and the Group brands, which continue to drive the automotive market towards a future projected on innovation and development.

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