2024 Fiat 500e coming to the US with sub-$33K price
The Fiat 500e is set to make a return to the US market, aiming to become one of the most affordable electric vehicle options on the market. Fiat, a brand that has faded into relative obscurity in recent years in the US, is making a strategic move to revitalize its presence in North America with the 2024 Fiat 500e, priced starting at under $33,000.
Fiat's history in the North American market dates back to the early 1900s, but its sales have experienced a significant decline over the past few years. The brand's resurgence in the US began in 2011 when it took a stake in the struggling Chrysler, eventually leading to a merger with the PSA Group (Peugeot SA) to form Stellantis in January 2021. Despite these efforts, Fiat's sales have continued to dwindle, with a mere 427 cars sold in the US this year, marking a 46% decline from 2022.
However, Fiat is determined to change its fortunes with the appointment of Aamir Ahmed as the head of North American operations. Ahmed's mission is to steer Fiat towards electrification, and the 2024 Fiat 500e is a pivotal part of this strategy. Stellantis unveiled the new 500e at the LA Auto Show, with plans to bring it to the US market in the first quarter of 2024.
The 2024 Fiat 500e represents a significant departure from its predecessor, which was primarily a compliance car with limited range and availability in only three states. The revamped 500e promises to offer more range and modern features, all at an enticingly affordable price point. According to recent order guide data, the 500e will have a Manufacturer's Suggested Retail Price (MSRP) of just $32,500 before destination charges. This pricing makes it even more accessible than the compliance car, which started at $33,210.
While specifics about the 2024 Fiat 500e's technical details and availability are yet to be officially disclosed, Fiat's website hints at a forthcoming announcement on December 4. Additionally, it remains uncertain whether the vehicle will be produced in a manner that qualifies it for the IRA tax credit, but Fiat can still pass on the federal tax credit of $7,500 to leases, making the 500e’s effective cost just $25,000.
The timing of the 2024 Fiat 500e's launch is great, as two of the most affordable EVs on the market are due for upgrades in the near future. Chevrolet is expected to conclude Bolt EV production later this year, and the Nissan Leaf is set to undergo a complete redesign for its new model, slated for release in Europe next year. Ivan Dury, director of insights for Edmunds, suggests that a compact EV with improved range could be the game-changer that Fiat needs to turn heads in the US market.
Notably, the Fiat 500e has already made a mark in Europe, where it ranks as one of the best-selling EVs. With its upgraded version and a competitive price tag, Fiat is optimistic about replicating this success in the US. And if you feel you're on the fence whether to consider the all-new 500e, our in-depth review can help you make up your mind.
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