Fiat sees 40 percent collapse in car sales

Sales of Fiat cars plunged by 39.96 percent in October on a 12-month comparison, Italy's transport ministry said in a statement, with sales of new cars overall dropping by 28.82 percent. The data highlighted the effects of the gradual end to cash-for-clunkers bonus payments that have helped boost car sales during the global economic crisis.
The ministry said 139,740 new vehicles were registered in Italy last month. The drop in registration numbers was the seventh in a row following 10 months of rises while the government was helping sales. Registrations between January and October dropped 6.95 percent compared to the same period a year earlier, the data showed.