The Fiat brand of Fiat Chrysler Automobiles N.V. (NYSE: FCAU) is so unpopular that its total national sales dropped to an average of 70 per day in January. The month’s total, 2,164, was down 9% from last year.
Fiat Chrysler management was unwise enough to point out that sales of the Fiat 500 rose 24% to 1,219. Management left out that sales of the 500L dropped 70% to 106 and 500X sales dropped 42% to 600. Also excluded from the management analysis was that Fiat Chrysler dropped the price of the 500 by $2,000 for the 2017 versions. According to Car & Driver:
Call it a Hail Mary pass for Fiat’s 500 hatchback and 500C convertible, as the Italian brand revamps the little car’s lineup for 2017 both by simplifying the available trims and options, and by cutting the base price by 11 percent. With a new starting price of $15,990, the base 2017 Fiat 500 Pop costs a full $2000 less than last year.
Fiat has been plagued by poor quality reviews and a narrow model lineup.
The brand also suffers because the high gas mileage, low-priced end of the car market is crowded. Additionally, U.S. vehicle sales have tipped away from passenger cars and toward sport utility vehicles and crossovers.
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