Italy once had one of the highest rates of car ownership in the world, with 60 cars for every 100 people. But in 2011, bicycles outsold cars for the first time in decades.
With gas hovering around $9.60/gallon and exorbitant taxes and registration fees, Italians are apparently doing away with their second cars and dusting off their bicycles. According to The Telegraph, car sales were down 20 percent year-over-year, as Italians cut back on groceries and other necessities, in addition to big ticket items like cars. Does this mean a big push for Peugeot in Italy now? Maybe PSA can keep their Aulnay plant open thanks to strong demand from the Italian market.