Automotive Dealer -Italy new car sales march 2012 ; Italian new-car registrations fell 27% in March as the recession and tough government reforms including higher taxes prompted consumers to postpone big purchases, with Fiat SpA (F.MI, FIATY) describing the result for its home market as the worst showing for the month in 32 years.
Registrations in Europe's third-biggest car market totaled 138,137 units against 188,495 for the same month last year, according to data published by the transport ministry Monday.
The drop was worse than the one registered in France, which declined 24%. It was also worse than the drops recorded in Italy in the previous months: registrations fell 19% in February and 17% in January.
For the quarter, the total number of new cars registered in the country dropped 21% to 406,907 units.
Fiat, whose chief executive had spoken of a "horrible" month last Friday, had nearly 36,000 cars of one or another of its various brands registered during the month, giving it a 26.03% share of the total, below its benchmark 30%.
Among its brands, Fiat fell 36% to 24,900, Lancia dropped 29% to 6,490, and Alfa Romeo tumbled 46% to 3,889.
Volkswagen AG (VOW.XE, VLKAY), its closest rival by market share, fell 23% to 12,353.
UNRAE, the association of foreign manufacturers, blamed the drop on the difficulty of obtaining credit and higher taxes imposed by the government of Prime Minister Mario Monti.
Although a hauliers' strike in Italy lasted for most of the month, an UNRAE official said its effect would be felt the most in April.
Fiat and other auto makers elsewhere in Europe are facing a dire year as a result of the sovereign-debt crisis. It has also forced France's PSA Peugeot Citroen (UG.FR, PEUGY) of France and General Motors Co. (GM) of the U.S. to enter into a partnership to save on costs. GM is also considering plant closings at its Opel unit.
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