Italy car sales fall 14.26% in May

Reuters (Milan) - Italy's new car sales dropped 14.26 percent, or 46,470 vehicles, in May from the same month a year ago, improving from recent months but still continuing a slump as the country feels the squeeze from austerity measures aimed at reining in its deficit.

Fiat's market share was 31.6 percent in May, little changed from 31.4 percent in April.

During the first three months of this year, new car sales fell 20.9 percent from the same quarter a year ago. They fell 10.8 percent in 2011 to 1.74 million cars, dropping for the fourth year in a row.

Italian automotive dealers association Federauto said the May car sales figures forced it to confirm a 2012 forecast of 1.37 million cars.