Fiat sales take a hit in EuropeJune 16th, 2012 - 3:34 pm ICT by IANS
Rome, June 16 (IANS/AKI) Fiat’s sales in Europe have plummeted over the weak economy and a saturated market demand for vehicles from Italy’s biggest carmaker.
Sales fell 12.1 percent compared to May 2011, giving it a 7.2 percent market share in Europe, compared to 7.5 percent year-on-year.
In the 27-member European Union, the Turin-based company has sold 82,500 cars in one year.
The economic slowdown has prompted consumers to spend less as workers lose jobs and companies cut spending.
Fiat at the end of 2011 shut down an Italian plant, the first European automaker to close a production plant in its home country since economies were sent into a tailspin by the 2008 financial crisis.
The company has sold 16.6 percent fewer cars during the first five months of the year.
The sales include cars from Chrysler, the American auto company controlled by Fiat.
Fiat and Chrysler chief executive officer Sergio Marchionne says he aims to combine Italy’s top car company with the America’s No.3 by the end of 2014.
- Fiat profit more than doubled in fourth quarter - Feb 03, 2012
- Fiat not to leave Italy amid sales plunge - Sep 19, 2012
- Italy's Fiat dealers in for a sad Christmas - Dec 24, 2010
- Fiat CEO's anti-Italy comments spark outrage - Oct 26, 2010
- Fiat workers strike in Italy over bonuses - Jul 13, 2010
- Chrysler plant in Mexico to build Fiat subcompact - Mar 09, 2011
- Chrysler, Ford sales up in January - Feb 02, 2012
- Fiat to sell industrial unit in stock market - Apr 22, 2010
- Fiat to expand presence in Indian market - May 09, 2012
- Recession-hit Italian hotels report fewer guests in 2012 - Sep 07, 2012
- Ford's award sweep signals hope for US auto industry - Jan 12, 2010
- Ferrari, Lavazza designer dies at 85 - Jul 03, 2012
- High inflation smothers salaries in Italy - Apr 25, 2012
- Fiat doubts about future of GM's German operations - May 09, 2009
- Cost-cutting measures fall short: Italy's central bank chief - Oct 13, 2011
Tags: aki, american auto, auto company, car company, carmaker, chief executive officer, chrysler, economic slowdown, european automaker, european union, fiat, financial crisis, five months, market share, months of the year, rome, s sales, tailspin, top car, turin