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  • Mobility
  • Marketing
  • France

€1/Month for a Fiat Panda

FACTS

  • The Italian car maker Fiat launches a promotional lease-purchase option in France: renting a Fiat Panda for €1/month.
  • Targets: most modest French households eligible to €4,000 “super-bonus” scrappage premiums.
  • Concerned vehicle: Fiat Panda special series Ligue 1 Conforama, 1.2 L, 69 bhp (fuel)
  • Offer: €1/month rent for a lease-purchase contract over 37 months or 30,000 km.
  • No financial contribution is required: State financed scrappage premiums to afford the first increased rent.
  • After 3 years, the customer may choose to give the car back and would then only have paid €37 to drive a new car during the leasing period. Otherwise, he may opt for the purchase option for €5,890. A typical credit offer is planned by Fiat to help them afford the purchase.
  • A new Fiat Panda Ligue 1 Conforamacosts €10,490 on average. the

CHALLENGES

  • Upholding accessibility. With this new offer, Fiat first stresses their intent to make their vehicles accessible to the largest possible number of people.
  • Relying on financial support from governments. Fiat mostly aims for 20% most modest French households eligible to the 2019 scrappage premiums, whereby up to €4,000 can be paid: nearly 2 million people likely to be interested in Fiat’s offer.
  • Attracting new customers with an entry-level offer. This special offer was supposed to last up until March 31st, but Fiat didn’t exclude the idea of maintaining it for a longer period, by way of making the most of this prospecting approach.
  • With this offer, Fiat also achieves a large-scale marketing ploy relying on the government’s newly implemented scrappage premiums. Fiat bets on an initial rent likely to be worth the entire amount of the grant, or €4,000 paid directly. If the customer is unable to make this payment, FCA Bank may feature cash advances for the car dealer.

MARKET PERSPECTIVE

  • 13,000 Fiat Panda vehicles were sold in France in 2018 (twice as many as the year before). This increase is fully accounted for by the 2018 scrappage premiums launch.
  • crappage premiums attracted 300,000 households in 2018 and 60,000 since January 2019.