Automotive Report – February 2018 with main registrations results in Europe and Italy

1. Automotive Report
Analysis of New Car Registrations in Europe and Italy
February 2018

2. 2
Analysis of New Car Registrations in Europe and Italy
* EU + EFTA Countries (Iceland, Norway, Switzerland); ** Δ% February 2018 / February 2017
Executive Summary
 Areas: North-East +6,8%, North-West -1,7%, South -1,8%, Centre -1,9% and Islands
-3,6% in volume in February 2018 compared to February 2017
 Customer segments: Fleet +17,4%, Business +16,1% and Retail -9,5% in volume in
February 2018YTD compared to February 2017YTD
 Brands: among the Top 15 by volume, high increases for Jeep +93,6%, Dacia +27,6% and
Citroen +23,8% in February 2018YTD compared to February 2017YTD
 Premium brands: among the Top 15, Alfa Romeo +23,3%,Audi +3,2% and Mercedes-
Benz +1,2% in volume in February 2018YTD compared to February 2017YTD
 Top 3 Countries by growth in new registrations: Spain +13,0%, Netherlands +10,7% and
Poland +9,6% in volume in February 2018 compared to February 2017
 Top 3 Countries by market share: Germany 21,7% (+0,8), Italy14,7% (-0,7) and France
13,3% (-0,3) in February 2018YTD compared to February 2017YTD
 Brands: among the Top 15 by volume, high increases for Dacia +20,6%, Skoda +17,2%
and Peugeot 15,4% in February 2018YTD compared to February 2017YTD
 Premium brands: Mercedes-Benz +3,1%,Audi +1,4% and BMW +0,2% in volume in
February 2018YTD compared to February 2017YTD
Europe*
Italy
+4,0%**
-1,4%**

3. 3
Agenda
1 Europe
1.1 Market Overview
1.2 New Car Registrations by Brand
2 Italy
3 Focus on ElectricVehicles Market in Italy (Hybrid and Pure Electric)
4 New Car Models Launches in Italy

4. 4
Top 10 European Markets* – February 2018 vs February 2017
Europe – Market Overview
Source: ACEA, Arthur D. Little Analysis
EU New Car Registrations
1.114.6591.159.039
+4,0%
20172018
##
#°
##
Ranking on February 2018 data
New Car Registrations in February 2018
Δ% Feb. 2018 / Feb. 2017
* EU + EFTA Countries (Iceland, Norway, Switzerland)
-1,4
2°
181.734 +4,7
9°
26.499
+9,6
8°
42.135
1°
261.749
-0,1
10°
17.069
+10,7
7°
35.410
-3,2
6°
50.257
+13,0
5°
110.474
+4,3
3°
168.893
4°
80.805
-2,8
+7,7

5. 5
-15,0
25,0
15,0
5,0
-5,0
In February 2018, demand for passenger cars in Europe continues to be sustained by the positive performance of
Germany, France and Spain. UK registered a decrease both in terms of volume and Market Share
Top 10 European Markets* – February 2018YTD
Source: ACEA, Arthur D. Little Analysis
Europe – Market Overview
Highlights Market Share
# Country
Feb.
2018
∆ Vs
2017
1 Germany 21,7% 0,8%
2 Italy 14,7% -0,7%
3 France 13,3% -0,3%
4 UK 10,0% -1,1%
5 Spain 8,7% 0,8%
6 Belgium 4,4% -0,1%
7 Netherlands 3,9% 0,3%
8 Poland 3,6% 0,3%
9 Austria 2,3% 0,0%
10 Ireland 2,2% -0,2%
9,5
-5,1
1,0
3,4
16,4
3,4
13,4
6,6
15,3
-3,5
Market Share
∆ % Volume
Feb. 18/17
* EU + EFTA Countries (Iceland, Norway, Switzerland)
20%10%0%
New Car Registrations Feb. 2018 YTD

6. 6
Top 15 – February 2018YTD
Europe – New Car Registrations by Brand
Source: ACEA, Arthur D. Little Analysis
∆M.S.
18/17
0,06 0,57 -0,01 -0,20 5,73 -0,12 -0,20 0,50 -0,68 -0,02 -0,25 0,14 0,16 -0,34 0,41
Vol.'18 272.612 162.680 161.215 158.976 140.030 126.127 123.198 120.502 120.034 117.436 117.147 99.781 83.039 82.001 80.617 2.445.109
M.S.'18 11,1% 6,7% 6,6% 6,5% 5,7% 5,2% 5,0% 4,9% 4,9% 4,8% 4,8% 4,1% 3,4% 3,4% 3,3%
20,6
-4,3
10,8
9,1
0,2
5,0
-7,3
17,2
1,4
3,1
-3,6
2,4
5,2
15,4
6,0 5,5
∆ %
18/17
Tot.
*
* Opel includes Vauxhall New Car Registrations

7. 7
Agenda
1 Europe
2 Italy
2.1 Market Overview
2.2 Market Highlights
2.3 New Car Registrations by Brand
2.4 New Car Registrations by Group
2.5 New Car Registrations by Fuel Type
3 Focus on ElectricVehicles Market in Italy (Hybrid and Pure Electric)
4 New Car Models Launches in Italy

8. 8
Italian Market –Variation of New Car Registrations 2018 vs 2017
Italy – Market Overview
Source: UNRAE, Arthur D. Little Analysis; *Dataforce ∆'17/'16 ∆'18/'17
In February 2018, new passenger car registrations in Italy decreased by 1,4%,
mostly because of the retail channel (-13,0% vs Feb. 2017, -9,8%YTD) even if
Self-registration registered a double digit growth (+20%) compared to 2017
(+84% if compared to 2016).
On the other hand, business and fleet segments continue register strong
increases (+8% and +19% respectively): in particular, RAC registered a +17%
and LTR registered a growth of +22%
February 2018
6,8%
-3,2%
OctoberAugustJune
5,9%
DecemberNovemberSeptember
7,1%8,1%
15,8%
July
10,1%
-4,6%
February March
6,2%
MayJanuary
12,9%
8,2%
April
18,2%
3,4%
-1,4%

9. 9
48,4
23,8
-4,7
-4,3
12,7
-16,9
19,9
-0,9
79,9
-16,0
Italian Market – February 2018 vs February 2017
Source: UNRAE, Arthur D. Little Analysis
Italy – Market Overview
2015
2014
Δ% February 2018 / February 2017
181.734 184.350
-1,4%
2017
2018
-4,2
North-West
55.470
-9,9
Islands
8.051
+5,7
North-East
67.894
-4,8
Centre
33.582
-6,9
South
16.737
##
aa
##
Region
New Car Registrations in February 2018
Δ% Feb. 2018 / Feb. 2017
Growth of the Top 10
brands by volumes

10. 10
Diesel
55,8%
Petrol
32,2% LPG
6,0%
CNG*
2,1%
EV*
3,9%
Other
12,2%
Italian Market – February 2018YTD vs February 2017YTD
Source: UNRAE, Arthur D. Little Analysis
Italy – Market Highlights
Analysis by “Customer Segment” Analysis by “Fuel Type”
Analysis by “Geographical Area” Analysis by “Car Segment”
Business
72.143
Fleet
80.421
94.395
213.809
Retail
193.369
62.154
2017
-9,6% 17,4% 16,1%∆'18/'17
SouthNorth-East
16.682
34.709
70.958
117.654
69.642
Islands
17.304
35.334
Centre
113.204 115.135
125.670
North-West
359.9061.0066.19345.030
122.400
130.713
54.564
A B DC E TotalF
-18,1% -0,4% 11,3% 9,4% -6,2% 27,6%-1,7% 6,8% -1,9% -1,8% -3,6%
2018
2017
∆'18/'17 ∆'18/'17
2018
2017
+1,4
+35,6
+30,7
-6,0
-2,9
∆% Volume Feb. 2018 / Feb. 2017 (YTD)
* CNG: Compressed Natural Gas (Methane and Ethanol); EV: Electric Vehicle (Hybrid and Electric)
359.907 356.384
2017
2018
+1,0%
While within the EU diesel engine market share
has been decreasing (-7p.p. since 2010), in Italy
it continued to grow (+11 p.p. since 2010)

11. 11
New Car Registrations by Brand – February 2018YTD (1/3)
Italy – New Car Registrations by Brand
Source: UNRAE, Arthur D. Little Analysis
25.386
12.193
22.345
12.85313.01814.305
19.404 17.084
66.926
29.606
16.20517.885
10.33610.350 9.032
23,3
1,2
-5,8
3,2
18,5
27,6
93,6
-2,0-11,5
23,8
-4,7
13,7
-0,8
10,6
-12,4
Volume
∆Volume
18/17 %
∆ M.S.
18/17 %
Market
Share %
-2,85 0,72 -0,13 0,69 -0,32 0,92 -0,67 -0,14 1,90 0,76 0,53 0,07 -0,20 0,00 0,45
18,60 8,23 7,05 6,21 5,39 4,97 4,75 4,50 3,97 3,62 3,57 3,39 2,88 2,87 2,51

12. 12
New Car Registrations by Brand – February 2018YTD (2/3)
Italy – New Car Registrations by Brand
Source: UNRAE, Arthur D. Little Analysis
1.6762.1512.245
3.392
1.354
7431.122
8.560 8.473 8.436
3.5033.672
6.342
4.603
3.861
11,6
24,328,6
-24,9
20,1
-14,9
-26,5
-4,0
5,4
22,623,418,2
-35,0
-8,1-11,0
Volume
∆Volume
18/17 %
∆ M.S.
18/17 %
Market
Share %
-0,32 -0,24 -1,30 0,25 0,23 0,19 0,04 -0,05 -0,35 -0,12 0,10 -0,16 0,08 0,06 0,02
2,38 2,35 2,34 1,76 1,28 1,07 1,02 0,97 0,94 0,62 0,60 0,47 0,38 0,31 0,21

13. 13
New Car Registrations by Brand – February 2018YTD (3/3)
Italy – New Car Registrations by Brand
Source: UNRAE, Arthur D. Little Analysis
1291225444665
121140
402422
478495
535
-66,7
12,5
50,047,1
-27,9
-11,5
0,0
65,8
-69,2
2,6
-26,5
6,2
-16,8-7,1
Volume
∆Volume
18/17 %
∆ M.S.
18/17 %
Market
Share %
-0,01 -0,03 0,00 -0,04 0,00 -0,09 -0,01 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00
0,15 0,14 0,13 0,12 0,11 0,04 0,03 0,02 0,01 0,01 0,01 0,00 0,00 0,00 0,00

14. 14
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
New Car Registrations by Group – Top 15 – February 2018YTD
Source: UNRAE, Arthur D. Little Analysis
Italy – New Car Registrations by Group
0,5
0,6
0,6
1,4
1,8
3,6
3,8
3,9
4,6
4,7
7,1
9,0
14,0
16,0
27,6
Top 5: 73,7%
Top 10: 94,3%
20,1%
-24,9%
-14,9%
10,8%
-5,4%
-7,4%
-1,8%
18,2%
14,9%
-5,2%
66,5%
-0,8%
6,1%
10,6%
-9,6%
99.299
57.736
50.288
32.422
25.386
17.033
16.683
13.853
13.728
12.993
6.342
5026
2.245
2.151
1.676
FCA
PSA
Volkswagen
Renault
Ford
Hyundai
Toyota
BMW
Daimler
Nissan
Suzuki
J&LR
Mazda
Volvo
Honda
Market Share
(%)
DeltaVolume
'18 vs '17
VolumeGroup Brand

15. 15
New Car Registrations by Fuel Type –Top 10 – Petrol and Diesel
Source: UNRAE, Arthur D. Little Analysis
Italy – New Car Registrations by Fuel Type








































DieselPetrol
February 2018 2018YTD
 Ranking variation compared to previous period
1.222
1.291
1.372
1.497
1.585
1.904
2.654
3.207
3.881
7.155
2.495
2.529
2.535
2.536
3.220
3.849
5.422
6.122
7.649
15.704
4.699
5.196
5.376
5.659
5.682
5.773
6.683
6.737
6.969
7.782
2.491
2.617
2.626
2.722
2.983
3.095
3.176
3.224
3.373
3.666
PANDA
500
YPSILON
POLO
C3
208
AYGO
500L
YARIS
CLIO
PANDA
500
YPSILON
POLO
C3
208
FI ESTA
AYGO
CLIO
YARIS
500X
FI ESTA
COMPASS
TIPO
QASHQAI
RENEGADE
DUSTER
500L
TIGUAN
GOLF
500X
DUSTER
COMPASS
TIPO
QASHQAI
FI ESTA
GOLF
TIGUAN
RENEGADE
500L

16. 16
432
494
529
598
636
649
679
788
790
820
New Car Registrations by Fuel Type –Top 10 – LPG and CNG
Source: UNRAE, Arthur D. Little Analysis




















CNGLPG
February 2018 2018YTD




















Italy – New Car Registrations by Fuel Type
 Ranking variation compared to previous period
860
1.133
1.235
1.319
1.409
1.478
1.479
1.587
1.653
1.689
207
241
278
305
453
628
636
639
891
2.299
102
111
120
157
221
287
378
483
582
1.387
PANDA
SANDERO
CORSA
CLIO
C3
TIPO
DUSTER
YPSILON
500X
500L
CORSA
DUSTER
PANDA
SANDERO
CLIO
C3
YPSILON
500X
TIPO
KARL
GOLF
PANDA
OCTAVIA
POLO
UP!
PUNTO
IBIZA
LEON
A3
QUBO
GOLF
PANDA
POLO
UP!
OCTAVIA
PUNTO
LEON
IBIZA
500L
QUBO

17. 17
Overview of New Car Registrations by Segment
Source: UNRAE, Arthur D. Little Analysis
Italy – New Car Registrations by Segment
Segments Growth in Market Share* Market Share andVolume**
-3,5%
+1,0%
D
«Executive»
-0,5%
B
«Supermini»
-0,2%
E
«Luxury»
+3,1%
C
«Medium»
+0,1%
F
«Ultra Luxury»
F 1.0060,3%
E 6.1931,7%
D 45.03012,5%
Tot. 359.906100,0%
15,2%
122.40034,0%
36,3%
A 54.564
130.713
C
B
A
«Utility/City»
* Δ% February 2018 YTD / February 2017 YTD; ** Market Share and Volume February 2018 YTD

18. 18
Segment A and Segment B – Top 10 – February 2018YTD
Source: UNRAE, Arthur D. Little Analysis
Italy – New Car Registrations by Segment
A
“Utility/City”
B
“Supermini”
1.6031.7081.8871.9662.4642.5342.5352.920
10.118
21.577
TWINGOCIFORTWO 110IGNISAYGO UP!PANDA KARL500
4.5004.876
7.0657.214
8.0108.0448.3278.437
9.4149.507
YARISCLIO 2008SANDERO208POLOFI ESTA C3 500LYPSILON
∆ Vol. %
18/17 YTD
∆ Vol. %
18/17 YTD
SegmentA is the one that registered the
highest decrease in February 2018 (-20,6),
taking the overall decrease in 2018 to -18,1
-30,3% -7,6% 46,1% -21,6% 13,3% -24,2% 2,1% 8,4% -8,9% -37,7%
6,6% 11,5% -35,0% -10,6% 11,6% -21,1% 8,3% -3,1% 1,0% -3,5%

19. 19
Segment C and Segment D –Top 10 – February 2018YTD
Source: UNRAE, Arthur D. Little Analysis
Italy – New Car Registrations by Segment
C
“Medium”
D
“Executive”
3.8443.901
4.396
6.4326.8047.1027.390
8.237
10.22810.580
GIULIETTA3008 ECOSPORTRENEGADECOMPASSGOLF DUSTERTIPO500X QASHQAI
1.5121.5451.5741.6771.7431.787
2.3372.514
3.501
5.677
TIGUAN RAV4GLAOCTAVIAA4 Q3GIULIASTELVIOXIKUGA
∆ Vol. %
18/17 YTD
∆ Vol. %
18/17 YTD
38,7% 26,2% -7,2% 74,7% N/A 2,9% -2,1% 100,8% 24,8% -9,1%
-2,3% 21,4% -1,1% 1250,9% -13,9% 19,6% 77,6% 19,9% 1,2% -3,1%
C and D segments had constantly increased
their market shares over 2017, with similar
results in February 2018YTD

20. 20
Segment E and Segment F –Top 10 – February 2018YTD
Source: UNRAE, Arthur D. Little Analysis
Italy – New Car Registrations by Segment
E
“Luxury”
F
“Ultra Luxury”
3035364144
7275
129
194
214
MODEL S488S CLASS A8F-TYPEGHIBLI 7 SERIES911 GTPANAMERA
∆ Vol. %
18/17 YTD
∆ Vol. %
18/17 YTD
51,9% 11,3% 35,9% -5,5% -20,3% -26,8% -16,8% -3,2% -42,9% -42,9%
51,8% 28,5% 59,3% 21,0% 1,4% 25,7% 115,8% -5,3% 191,7% 3,4%
205208240253
301
597623
719
800
963
E CLASS5 SERIES LEVANTE GLE
COUPÉ
RANGE
SPORT
XC90F-PACEA6 GLE GRAND
CHEROKEE
In February 2018, E segment registered a -
15,5% in respect to the same period of 2017,
while the F segment remained stable in
February 2018

21. 21
Agenda
1 Europe
2 Italy
3 Focus on ElectricVehicles Market in Italy (Hybrid and Pure Electric)
4 New Car Models Launches in Italy

22. 22
New Car Registrations of Hybrid vs Pure ElectricVehicles
Source: UNRAE, Arthur D. Little Analysis
Focus on ElectricVehicles Market in Italy
14.087
10.386
7.030
4.475
20182015 2016 2017
EV Registrations Trend
Volume, DeltaYoY, EV Market Share Feb. '18YTD
Hybrid and Pure ElectricVehicles Trend
Volume Feb. '18YTD
Delta
YoY
39,8% 57,1% 47,7% 35,6%
M.S. 1,7% 2,1% 2,9% 3,9%
CAGR
3,6%
97,1%
96,4%
2016
97,1%
2,9%
2015
5,7%
2,9%
94,3%
2017 2018
HybridElectric
+25,0%
+47,7%

23. 23
Pure
Electric
Vehicles
Top 5 Hybrid and Pure ElectricVehicles – February 2018YTD
Source: UNRAE, Arthur D. Little Analysis
Focus on ElectricVehicles Market in Italy
303136
52
256
MODEL SC-ZEROFORTWO ZOE i3
630
1.4301.503
3.038
4.543
IGNISYARIS RAV4 AURISC-HR
Hybrid
Vehicles
 While Petrol cars registered a
negative growth in 2018 (-2,8%)
and diesel one remained stable
in terms of sales, hybrids sales
increased steadily in February
(up 20% compared to 2017), in
line with the results obtained in
the previous years
 Pure Electric vehicle sales
increased by a whopping 105%
in February '18 vs '17, with an
YTD growth in 2018 of +64%

24. 24
Agenda
1 Europe
2 Italy
3 Focus on ElectricVehicles Market in Italy (Hybrid and Pure Electric)
4 New Car Models Launches in Italy

25. 25
New Models Launch per Brand – Roadmap 2018 (1/5)
Source: Quattroruote.it; Arthur D. Little Analysis
New Car Models Launches in Italy
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
A
B
C
D
F
Commercial Launch of New Model
Facelift / Technical Update
Premiere
Launch Concluded
Launch Postponed
Launch Anticipated
Giulietta
A7 SportbackA6
(P)
X5i8 Roadster
2Series Active
& Gran TourerM3
Z4
(P)X4
DS7
Crossback
Duster
(P)
M5 X2
Q3
(P)
RS5
Sportback
(P)
C5
Aircross
(P)
Q8
(P)
A1
(P)
DS3
Crossback
(P)
8Series
(P)
C4
(P)
Berlingo
(P)
E-tron
(P)
S8
(P)
Portofino
Punto 500X

26. 26
New Models Launch per Brand – Roadmap 2018 (2/5)
Source: Quattroruote.it; Arthur D. Little Analysis
New Car Models Launches in Italy
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
F
G
H
I
J
K
Commercial Launch of New Model
Facelift / Technical Update
Premiere
Launch Concluded
Launch Postponed
Launch Anticipated
(P)
Fiesta ST
(P)
Mustang
CourierFocus
(P)
Focus
RS+
Tourneo
Custom
Jazz
S2000
(P)
NSX
Roadster
(P)
HR-V
CR-V
i30 Fastback Santa
Fe i20H1 Tucson i40
I-PaceF-Pace SVR
(P)
Renegade
Cee’d
(P)
Cherokee Wrangler
Sportage Sportage
SUV
(P)
Niro EV
(P)
QX50
Edge

27. 27
New Models Launch per Brand – Roadmap 2018 (3/5)
Source: Quattroruote.it; Arthur D. Little Analysis
New Car Models Launches in Italy
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
L
M
Commercial Launch of New Model
Facelift / Technical Update
Premiere
Launch Concluded
Launch Postponed
Launch Anticipated
(P)
Urus
Range Rover
Sport Hybrid
Aventador S
Performante
(P)
Aventador S
Roadster
Huracan Spyder
Performante
(P)
Discovery
SVX
(P)
LS
(P)
RX L
2
CX-3 CX-5
6
MX-5
Ghibli
GranCabrio GranTurismo
Quattroporte
3
(P)
AMG GT4G-Class
C-Class
CLS
Mini
(P)

28. 28
Commercial Launch of New Model
Facelift / Technical Update
Premiere
Launch Concluded
Launch Postponed
Launch Anticipated
New Models Launch per Brand – Roadmap 2018 (4/5)
Source: Quattroruote.it; Arthur D. Little Analysis
New Car Models Launches in Italy
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
M
N
O
P
R
S
(P)
Juke
ASX
508
(P)
Eclipse
cross
Outlander
Outlander
PHEV
Leaf
Insigna GSi
508 SW
(P)
Boxter
(P)
Cayman
GT4
(P)
911
GT3 RS
(P)
992
(P)
Macan
911 Carrera
T
Megan RS
Leon Cupra
R Ateca Cupra
(P)
Aranda
(P)
Kodiaq
sportline Karoq
(P)
Fabia

29. 29
New Models Launch per Brand – Roadmap 2018 (5/5)
Source: Quattroruote.it; Arthur D. Little Analysis
New Car Models Launches in Italy
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
S
T
V
Commercial Launch of New Model
Facelift / Technical Update
Premiere
Launch Concluded
Launch Postponed
Launch Anticipated
(P)
Tivoli Actyon Sports
(P)
Smart Electric
Drive
Levorg
JimmySwift SportVitara
Land Cruiser Supra
(P)
XC40 S60
Touareg
(P)
Passat T-Cross
(P)

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