Fiat 500e Flops: Is Stellantis Wasting $110 Million?
Fiat 500e Flops: Is Stellantis Wasting $110 Million?The sales figures for the all-electric Fiat 500e have been underwhelming, both in Europe and in North America. Fiat has sold only 439 units of the 500e in the United States and 381 in Canada since its launch earlier this year. But Stellantis isn’t backing down; the company promises to invest an additional $110 million in the development of the 500 in the coming years.
Why the bad numbers?
The reasons buyers are staying away are simple, and no mystery. Insufficient range and high price of the 500e are largely responsible.
Nearly 15 years ago, Fiat made a smashing return to the United States with the 500, an affordable and popular model. In just a few years, the automaker had sold nearly 100,000 units. The 500's retro Italian charm, combined with a wide range of colors and an attractive price, helped find it an audience.
However, the 500e has so far struggled to ignite the same excitement. There is hope that sales could increase slightly as interest rates fall in the coming months.
Temporary halt to production
Even Stellantis doesn't seem optimistic about an improvement in 500e sales in the near future. Production of the model was halted in early September at the historic Mirafiori plant in Turin, with a reopening scheduled four weeks later. But that stoppage has since been extended until November 1st.