The Fiat 500 has been crowned Used Car of the Year at the AM Awards in Birmingham.
The car’s residual values and widespread popularity were all praised by the award’s judges, while special mention was made of the speed at which 500s are sold on as used vehicles.
“Single handedly re-invigorating the Fiat brand since its introduction to the market in 2008, the popularity of the Fiat 500 has not waned, enjoying massive popularity on the used market,” says Jeremy Bennett, editor, AM. “Demand for the car is still strong, ensuring 500s only share brief encounters with dealer forecourts before being whisked away to customers looking for fun in a cute and funky little package.
“With part-exchange values at £4,500 to £5,500 after three years, depending on the model, the 500 depreciates extremely slowly for a small car.”
“Fiat 500 has been a wonderful success story for us over the last four years or so, both as a new buy and as a used car,” says Jonny Miller, group remarketing manager, Fiat Group Automobiles UK. “Its ‘must have’ looks, reliability, character and fuel efficiency, have all helped to ensure its residual values are kept high, which is good news for owners and dealers.”