Fiat's European sales drop 16.7% in June

Carmaker says it is 'penalised' by weak demand in Italy

Fiat's European sales drop 16.7% in June

(ANSA) - Rome, July 17 - Fiat's car sales on the European market dropped 16.7% in June, European automakers' association ACEA said on Tuesday. Italy's biggest private-sector employer sold 79,927 cars in Europe last month, compared to 95,900 in June 2011, after it registered a 12.1% year-on-year drop in sales in May. As a result, Fiat's share of the European market fell to 6.4% in June, compared to 7.5% in June 2011 and 7.2% in May this year. The company said in a statement that it had been "penalised by the dreadful overall results of the Italian market". Italian sales were down by almost a quarter in June compared to the same month in 2011. Fiat CEO Sergio Marchionne said earlier this month that the carmaker may have to close one of its plants in Italy if weak demand on the European auto market continues.

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