In Europe the Fiat Cinquecento, like the VW Beetle and the Mini, was an icon of the 50s and 60s. Eyeing the retro wave and BMW's success with the Mini, Fiat is betting on its future by looking to its past. The redesigned Cinquecento, which means 500, like the original is targeted at the mass market and will be selling for 10,000 Euros ($13,600). Power to the people!
Implications - The car was revealed at a huge event that was televised in Turin, Italy. The little car was out of production for 32 years but it is now back and better than ever. It is a little bit bigger than the original and totally stylish.
What's Driving This Trend
- Retro Wave in Auto Industry
- Fiat's success with redesigned Cinquecento shows potential for other car manufacturers to tap into this trend.
- Affordable Mass Market Cars
- Fiat's Cinquecento's price point at $13,600 opens up opportunities for other car manufacturers to target a wider audience.
- Emulating Successful Brands
- Fiat's move to emulate BMW's success with the Mini opens up opportunities for other brands to look to successful companies for insight.
Who This Affects Most
- Automotive Industry
- Automotive companies looking to tap into the retro wave trend and mass market affordability can model Fiat's approach.
- Consumer Electronics Industry
- Fiat's move to emulate Apple's marketing strategy with their Cinquecento release could potentially open up partnerships between automotive and electronics manufacturers.
- Marketing Industry
- Fiat's successful marketing campaign with their Cinquecento release demonstrates the successful use of nostalgia and retro branding, which could inspire other marketers to tap into this trend.
