Peugeot hopes to draw buyers to the brand’s first mass-market full-electric vehicle — the e-208 — with a long-term battery warranty and lease rates that are comparable to internal combustion versions.
The favorable terms are part of Peugeot’s ambitions to have the e-208 account for 15 percent of its new small hatchback’s global volume.
Last year, Peugeot sold about 230,000 208s in Europe and 295,000 globally. Europe is expected to be the No. 1 market for the EV, which goes on sale at the end of 2019 (gasoline and diesel versions of the new-generation 208 will go on sale this spring). IHS Markit forecasts that Peugeot will produce about 350,000 208s in 2020, with the e-208 making up a significant portion of that extra volume.
Sales prices for the 208 will be announced this spring, but Peugeot is already promoting a 48-month, 60,000-km, 299 euro-a-month lease for the e-208, with a down payment of 2,400 euros. The company says the terms compare favorably to gasoline versions (269 euros a month) and diesel versions (289 euros a month) of the 208 when the cost of fuel is taken into consideration.
“When you add usage costs, the electric version is actually less expensive,” Sylvain Chereau, Peugeot’s EV director, told Automotive News Europe. “TCO (total cost of ownership) is the central message to our customers.” Volkswagen is promoting a similar plan for its ID range of electric vehicles, with the first model expected to go on sale in 2020.
Read more: Autonews