How much does it cost to buy a Panda? And how much did it once cost? We calculated how much it cost an Italian family to buy an Italian small car in 1991 and 2021. Here are the results
Marco Bruckner
June 8 – 08:13 – MILAN
The 2024 Ecobonus incentives click day brought euphoria to the Italian automotive market. The state contribution program has attracted many buyers, in particular for electric cars, for which the 201 million funds allocated have already been used up. Incentives therefore prove to be fundamental in pushing people to buy new cars, considering the prices on the market are not particularly accessible. But how much does the purchase of a new car impact a family’s income? We have calculated how much buying a Fiat Panda (the queen of sales in 2023) has on the average net family income in Italy. Furthermore, we calculated how much purchasing this model in 1991 affected the average net family income.
how much does it cost for a family to buy a panda now
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The latest Istat data available, that of 2021says that the average family net income in Italy is 33,798 euros. The list price as of May 20, 2021 of a Fiat Panda was 13,900 euros. Considering that the net monthly income of a family, according to Istat data, was 2,816.50 euros, this implies that an average family would take approximately 4.9 months in 2021 to collect the amount necessary to purchase a Panda. In general, it is important to emphasize that the list price of a Panda was equivalent to approximately 41% of the net family income of an Italian family.
how much it cost a family to buy a panda in ’91
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Thirty years ago, however, how much did the purchase of a Panda affect a family’s net income? In 1991 (the year chosen to have an exact difference of 30 years with the latest available Istat data, which is 2021), as reported by the Bank of Italy, the average family net income in Italy was 37.2 million lire. Which translates to 3.1 million in monthly income. The list price of a Fiat Panda, however, was 8,936,000 lire. So, in 1991, it took a family about 2.9 months to earn enough money to buy a Panda. The starting price of this car, at the time, corresponded to approximately 24% of the average family net income.
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higher incidence
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Although the data on the average family net income is probably destined to improve at the next survey (in 2021 the economy was still strongly influenced and damaged by the pandemic), what emerges from the numbers just reported is that, in 2021, buying a Panda would be proportionately much more expensive for a family than doing so in 1991. In fact, in ’91 the price of a Panda corresponded to approximately 24% of the average family income, while in 2021 it corresponded to approximately 41%. This is therefore an impact of 17 percentage points greater on the total income of a family. A figure that underlines how buying a new Panda was more economically sustainable for a family in 1991 compared to 2021.
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