Italy Auto Industry
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How with Italy auto industry fare in 2009?
Italy auto industry is all set to experience a tough 2009. This has already been indicated by projections of reductions in sales of new cars of auto industry in Italy in 2009. As per experts, there would be a decrease of 13.5 percent in car sales in Italy automobile industry. This rate is lesser than estimates for 2008.
How with Italy auto industry fare in 2009?
Italy auto industry is all set to experience a tough 2009. This has already been indicated by projections of reductions in sales of new cars of auto industry in Italy in 2009. As per experts, there would be a decrease of 13.5 percent in car sales in Italy automobile industry. This rate is lesser than estimates for 2008.
Experts are citing ongoing global financial meltdown as main reason behind decreasing projections. It is estimated that 1.85 million cars would be sold in 2009. Previously 2.14 million cars were predicted to be sold in that year. There have been lots of other causes behind decreasing sales of auto industry of Italy.
Prices of various fuels are touching sky and it has been tough for consumers of auto industry in Italy to get access to financial aid that is necessary for purchasing new cars like loans. These loans have become more expensive as well. Incentives, announced by Italian government for purchasing new cars, have not had their desired effect on consumers.
Experts have also said that this trend would continue for a long period of time. Major auto makers in Italy are finding it extremely hard to cope up with effects of global financial recession. Most of these companies, such as Fiat, are looking out for other automobile establishments to either join forces with them or buy stakes in their companies.
Latest news on Italy auto industry
Fiat, which is a major name in Italy auto industry, is buying 35 percent shares in Chrysler. This buyout is part of a concerted effort of both these companies to cope up with global financial meltdown. As part of this deal Chrysler would be able to get access to state of art automobile technology, at disposal of Fiat.
In November 2008 only 138,352 cars of automobile industry of Italy were sold in that country. This was a drop of 29.46 percent from October in that year and worst drop, on a monthly basis, after 1993.
Up till November 2008 only 2.018 million cars of automobile industry of Italy were sold. This was a decrease of 13.40 percent. Auto industry associations in Italy have been urging national government to emulate Germany and France and come up with financial aid for its ailing automobile industry.
