Italian new car registrations fell for a fifth straight month in May, down 17.6% year-on-year, according to government figures.
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Registrations for cars for the three brands belonging to the Fiat group fell 12.6 percent to 66,827 units, Reuters said.
Reuters said that Fiat’s share of registrations for the month remained above 30 percent at 32.7 percent. Speaking to reporters last week, Fiat CEO Sergio Marchionne said May was a bad month, the report added.
Fiat’s premium sports car brand Alfa Romeo suffered more than the other two brands with sales falling by 22.6%, Reuters said.
In March, new car sales suffered their biggest monthly drop this year and ANFIA, the association of Italian carmakers, said in a statement sales may record a double-digit drop in the first half of 2008 compared with the previous year.
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By GlobalDataNew car orders in the first five months of 2008 fell around 19 percent year-on-year to about 990,000 according to UNRAE, the association of importers.
“The data confirm that financial and promotional efforts by companies and retailers have not been able to allay a worsening in the general picture,” UNRAE said.
