Car finance deals for the Fiat 500 outnumber
those of all other Fiat models, according to
the website of motor finance arranger Creditplus.
Creditplus is, however, looking at Fiat’s
second-most popular model, the Panda, making a revival, Shaun
Armstrong, the company’s managing director, told Motor
Finance.
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“The Fiat 500 has led the revival of the Fiat
brand and has helped to raise the interest in the
forthcoming Fiat Panda. Although we don’t expect it to have the
same level of success as the 500, we do expect it
to compete well in the competitive supermini
category.”
2011 saw the average loan size increase from
£7,068 in 2010 to £7,350 and the Dorset-based brokerage has
confirmed that 2012 has had an equally busy start, and not just for
Fiat.
“Fiat only has a 3% penetration across all of
their models in the UK market. Both the 500 and Panda are outside
of the top 20 cars that we provide,” said Armstrong.
“As the 500 begins to age and the residual
value drops, we do expect the number that we provide to increase,
although it still might not reach the top 20.
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By GlobalData“The success of the Panda is still yet to be
seen, but judging by previous sales of this model there is likely
to be an influx into the used market in the next few years.
Although Fiat has revived their business to some extent, we
still don’t expect them to challenge the likes of the Ford Focus,
Vauxhall Corsa and the BMW 3 Series, which are currently our most
popular vehicles.”
richard.brown@vrlfinancialnews.com
