Auto Sales in Italy Down 7.9% in May image

Auto sales in Italy dropped 7.98% in May to 136,129 units, according to the country’s Transport Ministry.

In April auto sales in Italy dropped 10.83%, after a decline of 19.8% for the entire 2012. Automakers in the country are still struggling with the economic crisis and the sustained slump in the region’s auto market. Consumers avoid buying new vehicles, waiting for the economy to improve. It’s been two years since Italy has been hit by recession.

Sales in Italy dropped 7.9% in May to 136,129 units and Fiat’s market share stayed at 30.2%, the same level as in April. The Italian automaker said that its new car registrations figures were affected by a problem with the delivery of 3,000 vehicles, it has already sold in May. The vehicles could not be delivered due to an issue with a components supplier.

Marchionne assured Minister Flavio Zanonato that Fiat will keep employment even if the auto market in Italy is close to drop to levels last seen in the 1970s. In 2012 auto sales in Italy fell 20% and this year are expected to drop 5% more, to around 1.3 million units.

Source: Reuters