MILAN Nov 7 Italy's car market shows no signs
yet of recovery, unlike other key countries in Europe, a top
Fiat executive said on Thursday.
Italian car sales fell 5.58 percent in October from a year
ago, while sales rose in France, Spain and Germany.
"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," said Fiat-Chrysler EMEA chief
Alfredo Altavilla. "The real problem in Italy continues to be
lack of consumer spending."
He confirmed that Fiat will reach break-even in Europe in
2015 or 2016 as previously forecast, despite continued weakness
in Italy's car market.
Italy accounts for 10 percent of Fiat's volumes in Europe,
Fiat's market share in Italy has remained between 28-30
percent for years. Altavilla said the company is not wedded to
its Italian market share.
"We're 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."
(Reporting by Jennifer Clark; Editing by Elaine Hardcastle)