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Economy

Electric Vehicle Frenzy: Stellantis Achieves 20,000 Social Leasing Orders in France

Monday 22 January 2024 - 12:00

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French drivers are demonstrating a strong appetite for affordable electric vehicles, as evidenced by Stellantis, the automaker, receiving over 20,000 social leasing orders for its EV models within weeks of the government incentives' launch.

Dealerships are grappling with an influx of potential buyers enticed by the prospect of owning an electric car for less than €100 a month. Stellantis has successfully met this demand by offering models such as the Citroën ë-C3 starting at €54 monthly and the Fiat 500e from €49.

Among the most sought-after models are the Fiat 500e and Peugeot E-208, both compact hatchbacks that make electric driving accessible even for budget-conscious individuals. With the Peugeot offering an impressive range of up to 362 km, these city-friendly vehicles cater to both urban commuters and rural residents seeking eco-friendly transportation options.

For Stellantis, the social leasing frenzy presents a lucrative opportunity. Buyers commit to affordable monthly payments, allowing the automaker to sell each vehicle at its full price, augmented by the French government's subsidy of up to €13,000 per car. While advantageous for buyers and Stellantis, the financial burden falls on state coffers.

As social leasing continues to drive mass adoption, Stellantis solidifies its position in the EV market. With over 20,000 French drivers already committed and additional incentive schemes on the horizon, the company is poised to accelerate the electric transition, one lease at a time.