Fiat holds on to share of slumping Italian market

ROME (AP) — Fiat says 2012 was the worst year for car sales in Italy since 1979, but that the manufacturer nevertheless managed to slightly increase its share of the national market.

Fiat SpA said in a statement Wednesday that Fiat Group's share of the 2012 market increased slightly to 29.6 percent from 29.4 percent in 2011.

Overall, auto sales from various manufacturers in recession-hit Italy plunged by 19.6 percent in 2012 compared with the previous year, Fiat said, calling that "the most negative scenario" since 1979.

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