Fiat sees double-digit sales slide in Italy in November

But group increases Italian market share, Brazil sales up

Fiat sees double-digit sales slide in Italy in November

Rome, December 3 - New car registrations in November took another double-digit dip for Italian carmaker Fiat Spa in its home market, according official data released Monday. Fiat new car registrations in Italy were down 16.5% on the same month of the previous year, to 31,649 units compared with 37,924 units. The company, Italy's largest industrial concern, recorded a 10.3% drop in new car registrations in the same period the previous year. In a statement released after the close of the Milan stock exchange, the Italian carmaker said: "In a very negative market, in November Fiat Group improved its share," taking 29.7% of the total Italian car market, compared with 28.4% in November 2011. In pre-crisis years, the group's market share in Italy was stably above 30%. The statement added that in the first 11 months of the year, Fiat registrations reached "over 389,000" equivalent to a 29.6% market share, up 0,1% from the year-earlier period. Earlier Monday, Fiat reported a big jump in North American sales at its US unit, Chrysler. Also, the company reported that its new car registration figures for November in Brazil, its largest single market for Fiat-branded auto sales, jumped 11.5% on the same month of 2011. Fiat said it sold 71,332 cars in Brazil last month, giving it a 24% share of the Brazilian market. Since January, Fiat sales, at 763,754 units, are up 11.5% on the year-earlier period. Overall, total new car registrations in Brazil in November reached 296,969 units. Fiat sales are growing faster than the overall market in Brazil.

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