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With the European new car-market as a whole dropping 7.8 percent from January to October and Fiat's traditional markets such as Italy (-19.7%), Spain (-11.9%), Greece (-39.9%) and Portugal (-38.3%) recording double-digit declines, the Italian carmaker is feeling the pressure more than any other automaker in the region.

So it doesn't come to much of a surprise that Fiat plans to halt production of the Punto supermini at its Melfi plant in southern Italy.

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