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Fiat Trims Summer Output at Italian Plant
Fiat SpA will keep its assembly plant in Pomigliano idled for an additional two weeks in late August after the traditional summer four-week shutdown because of Europe's slumping auto market.
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Fiat SpA will keep its assembly plant in Pomigliano idled for an additional two weeks in late August after the traditional summer four-week shutdown because of Europe's slumping auto market.
Europe's sales crisis shows no sign of ending, Fiat says. The company notes that the Italian auto market is at its lowest levels since 1979, and demand for minicars, such as the Fiat Panda built in Pomigliano, has been hit especially hard.
Passenger-vehicle sales across Europe fell 6% to 6.9 million vehicles in the first six months of 2012, according to industry group ACEA. Demand in Italy plunged 20% to 814,200 units during that period. Fiat's European sales dropped 17% to 456,200 vehicles in the first half.
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