Peugeot has always adapted and learnt from the market. It jumps when it sees an opportunity, often offering the best services in their field. Embracing this ethic in their quest to gain more young drivers, the company has revealed a scheme that will give them the opportunity to buy a car with motoring costs - including servicing and insurance - covered. Perhaps altering how the market treats younger drivers, could this be the start of something radically new?
Initially launched in 2011, the scheme offers an inflation proof package that provides comprehensive motor insurance, road tax, vehicle servicing, roadside assistance and warranty, in a three-year package financed through single monthly payments. Because of this system, 21-year-old drivers living in a medium risk location will for the first time be able to realistically buy a car for themselves.
The move comes after The Society of Motor Manufacturers and Traders revealed that young drivers are put off by car servicing. Nield Moscrop, Director of Sales at Peugeot, has said that “The figures recently published by the SMMT offer the latest indication that young drivers are now, more than ever, feeling the financial challenge of owning a car. As insurance costs continue to increase, servicing is wrongly being seen as a ‘luxury’ many young drivers simply can’t afford.”
He continued by saying that “The welcome addition of the 208 VTi 68 to the ‘Just Add Fuel’ range demonstrates Peugeot’s on-going commitment to support young drivers by making some of our most desirable models available through JAF.”
According to market research conducted by the company, in the last decade the average number of Peugeot new car buyers under 40 was only 22 per cent. This has caused the company to revaluate the manner they target and incentivise potential buyers. Recent research into the area has indicated that the ‘Just Add Fuel’ scheme has had a positive impact on younger drivers and how they purchase vehicles. Under the new scheme, drivers under the age of 40 now account for 40 per cent of the sample, changing the dynamic significantly.
Nield Moscrop concluded by saying that "It’s essential the message hits home that servicing is not an optional extra and by missing regular service appointments, drivers are putting themselves and other drivers at risk. With this in mind, Peugeot is committed to working with young drivers to ensure that they remain safe while on the roads, while still having the option of affording our newest models."