Italy April New Car Registrations -7.5% On Year; Fiat Share Up
04 Mai 2009 - 7:05PM
Dow Jones News
Fiat SpA's (F.MI) automotive unit's share of the Italian
automobile market rose to 35.17% in April from 32.62% in March,
according to figures released Monday by Italy's Infrastructure
Ministry.
Overall, Italian new car registrations in April fell 7.5% to
188,406 units from 203,750 units sold in April 2008.
Monday, Fiat shares ended 8.1% higher as investors welcomed the
company's plans to spin off its car business and merge it with
General Motors Corp.'s (GM) European operations.
After taking a stake in U.S. auto maker Chrysler LLC last week,
Fiat Chief Executive Sergio Marchionne is seeking to separate the
company's auto division and link it with Chrysler and GM's European
units to create a European car giant.
Auto makers are facing a dramatic downturn in demand for new
cars in many markets around the globe, which has triggered a slew
of profit warnings and drastic production cutbacks in recent
weeks.
Ministry Web site: www.infrastrutture.gov.it
Company Web site: www.fiatgroup.com
-By Giada Zampano, Dow Jones Newswires, +39 06 69766920;
giada.zampano@dowjones.com