Italy's car sales “strongly negative”
Italy's new car sales were likely to have been “strongly negative” in August, according to Promotor, an influential research group that follows the industry's trends in the country.
Promotor gave the forecast on Monday in a statement put out every month ahead of the publication of official sales figures by the transport ministry, which generally reflect Promotor's forecast.
Shares in Fiat, whose home market is Italy, were nevertheless trading 2.87% higher at €10.88.
One analyst said investor interest was returning to the manufacturing sector, whose share prices have taken a beating this year. Fiat shares, for example, have lost more than 40%.
A trader also cited the recently released August figures out of France, which showed Fiat having enjoyed a 21.3% rise in car sales for the month despite a downturn in the market.
European car makers have seen a steep drop in sales as drivers postpone buying cars due to concerns about the economy, high fuel prices and a credit squeeze. (Reuters)
ADVERTISEMENT
MVM Creates Green Financing Framework
Parl't Approves Amendments to Legislation on Judiciary
New Tenant in Wing’s Hungária Office Park Development
BKK Steps up Airport Shuttle Bus Service
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
