Fiat was supposed to make
a triumphant return to the U.S. market with its diminutive and
distinctively styled 500. However, things haven't exactly panned out exactly
the way that Fiat planned according
to The Detroit News.
The 500 is a subcompact that is being pitted directly
against the Mini Cooper (an upcoming
Arbath model will target the Mini Cooper S). On a lesser degree, the 500
also competed with the Smart
fortwo and the upcoming Scion
iQ.
However, sales of the tiny four-seater are nowhere close to
reaching the lofty goals set by Fiat CEO Sergio Marchionne. Fiat expected to
sell 50,000 500s during 2011 in North America. Through the first seven months
of 2011, Fiat sold fewer than 12,000.
For comparison, BMW AG's Mini brand had total sales of
34,527 through July. The two-door Cooper/Cooper S coupe and convertible models
alone accounted for over 20,000 of those sales.
Laura Soave, head of Fiat North America says that
establishing a dealer network in the U.S. has taken longer than expected which
has contributed to the poor sales. "We have coverage now, so now is the
time for us to turn this up," Soave added.
Two basic models of the vehicles are currently available to
U.S. customers: the 500 (coupe) and the 500c (convertible). The cheapest model
available is the 500 Pop which has a base MSRP of $15,550 (the cheapest Mini
Cooper will set you back $19,400). The Fiat 500 also has good fuel economy for
a subcompact with EPA ratings of 30mpg in the city and 38mpg on the highway
with a 5-speed manual.
Shares of Fiat SpA dropped over 4 percent on the news of
poor 500 sales.
