Production of the Fiat 500e battery-electric hatchback will be paused for one month from September 13 due to low demand, Autocar has reported. The drop in sales is “linked to the deep difficulties experienced in the European [EV] market by all producers,” Fiat parent group Stellantis said in a statement.
Sales figures from Jato Dynamics indicated that 74,885 units of the Fiat 500 – both ICE and EV – were sold in Europe between January and end of July, or 24% less than the company had sold across the same period last year. In that period, electric vehicles’ market share in Europe dropped 13.5% from 14.6% in July 2023, the magazine wrote.
“The lack of clarity around the incentives for and future of EVs continues to present a barrier to consumers considering an EV. These factors, alongside the low residual value of EVs, contributed to the decline seen in July,” said Jato Dynamics analyst Felipe Munoz.
Development of the upcoming Fiat 500 Ibrida hybrid is driven by slow sales of the 500e and the discontinuation of the petrol-powered 500, and the 500 Ibrida is aimed at supporting the brand’s sales volume as EV sales have been weaker than expected.
“We obviously, like everyone else, thought that the world would go electric faster and the cost of electrification would go down faster. But we couldn’t imagine that Covid would happen, shortage of raw materials would happen [and] the European Society – not all, not the youngest part – would turn their backs on the sustainable solutions, but this is the reality,” Fiat CEO Olivier François told Autocar.
In addition to introducing the petrol-electric 500 Ibrida, Fiat is investing 100 milion euros (RM477.4 million) into the development of a new battery for the BEV Fiat 500e, which will significantly increase range of the 500e while significantly reducing the cost,” said Stellantis CEO Carlos Tavares.
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