While new car and light truck October sales were up in France, Spain and Germany, giving hope that the European market has finally bottomed out, Italy's car market is not showing any signs of recovery with car sales down 5.6% from a year ago. Fiat's European chief, Alfredo Altavilla, remains pessimistic about that brand's home market. "We are not seeing signs of a recovery in Italy, while in other markets we are seeing the glimmer of recovery where the market has touched bottom," Altavilla said. "The real problem in Italy continues to be lack of consumer spending."
Altavilla confirmed that Fiat still aims to reach break-even in Europe in 2015 or 2016 as the company forecast previously. Despite the fact that Italy, where Fiat has had about a 29% market share for years, makes up about a tenth of Fiat's European sales, Altavilla said the company's fortunes are not based on its Italian market share. "We are not and we never have been," he said. "We are bound to our economic targets and we have to find the right connection between market share and economic results."
from The Truth About Cars http://www.thetruthaboutcars.com
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