Fiat has slashed the price of its diminutive 500e hatchback from $52,500 before on-road costs to $49,990 drive-away.
The discount is said to be temporary - until September 2024, however many brands have been forced to keep such deals in place permanently as the electric car market becomes more competitive.
It applies only to the single standard 500e grade we get in Australia - the all bells and whistles La Prima grade, which sits atop the range overseas. The discount does not apply to the sporty Abarth 500e that arrived more recently.
The 500e faces tough competition in the Australian market, not just from low-cost Chinese alternatives like the GWM Ora (from $35,990) and BYD Dolphin (from $36,890), but also from the new-generation Mini Cooper E (from $53,990).
Fiat 500 sales this year, which includes the single remaining combustion variant, are down 29.2 per cent despite the arrival of the 500e.
The 500e’s price may have even lower to go as a base model is available just across the ditch in New Zealand, priced around $32,000 before on-roads when converted to Australian dollars.
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This base Pop version maintains the same 42kWh battery and 311km of driving range alongside the 87kW/220Nm electric motor, but downsizes the wheels from 17- to 16-inches, has halogen rather than LED headlights, and a more basic interior treatment with cloth seat trim. It also misses out on adaptive cruise control and items like a 360-degree parking camera or centre console armrest, and is only available in a single ‘mineral grey’ paint colour.
When queried on the possibility of the Pop variant entering the Australian market, a spokesperson for the local operation stopped short of confirming the base car would make it to Australia.
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“We’re always looking at ways we can improve price for customers," said the spokesperson.
The 500e — which is a new-generation car sold alongside the previous-generation combustion version — will also score a hybrid version in Europe in 2026, pairing a 1.0-litre three-cylinder engine with a mild-hybrid system to help cut down emissions.
The 500e Ibrida will help boost the brand’s Italian production facilities, which haven’t seen the expected uptake of the electric version. Instead, the brand sold nearly double the amount of combustion versions which are built in Poland. EV sales plateauing is a common theme in Europe.
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Stellantis, parent company of Fiat and Alfa Romeo, has faced criticism overseas for building its most popular Italian cars in other countries. The brand has committed to restoring Italian production to one million units a year by 2030 thanks to new models like the 500e hybrid.
It also expects to build hybrid versions of both the Jeep Compass and new-generation Fiat Grande Panda in Italy.