How can the transition to cleaner mobility be facilitated for motorists who will soon be excluded from EPZs? The company is working on an offer dedicated to penalized families. Explanations with Christophe Michaëli, Director of Automotive Mobility.
BNP Paribas Personal Finance is working on an offer dedicated to families penalized by the new traffic restrictions.
This is undoubtedly the greatest opportunity but also the greatest risk of the next few years. The Climate and Resilience law passed in August 2021 obliges agglomerations of over 150,000 inhabitants to organize a low-emission zone within which, gradually, the Crit’air 3 vehicles (and a fortiori those that affix stickers 4 and 5), or even beyond, they will no longer be able to circulate within this area. This new constraint will force the 8.7 million vehicle owners affected by this ban to review their travel arrangements or switch vehicles. The goal is not necessarily to push these customers towards electric motors, which are often inaccessible in terms of purchasing power.
“We already know the crisis of electronic components and delivery times, which will not return to normal for several months. The context of the rise in interest rates, accentuated by the uncertainties of the international context, is also an issue that arises before us. These moments are never very pleasant. Not to mention the implementation of the ZFE (Low Emission Zones), and its consequences since we will tell thousands of families, often modest, that their car is no longer worth anything “Explain Christophe MichaeliAutomotive Mobility Director at BNP Paribas Personal Finance.
In the Paris region, almost 25% of the car fleet does not meet the new requirements imposed by the Paris ZFE.
Read also: Greater Paris postpones the next phase of the ZFE to 2023
A substitute market under constraint
“We will see a renewal market under duress. I often draw parallels with the change that has taken place between the CRT television and the flat screen. All households were equipped with an older generation TV, but consumers gradually began to switch equipment. This shows that when technological innovations occur, there are also opportunities for market renewal even if in this case the values are different. Obviously, the solution involves financing“, The latter continues.
But it is difficult to bring a population that does not buy new cars into the automotive financing model: the tightening budget constraints of families and the soaring fuel prices will reinforce this feeling of exclusion.
According to BNP Paribas Personal Finance, financial institutions must help families in this transition. “It also gives meaning to our profession. We need to find solutions for low-income families. We will once again think about the final customer and adapt to his needs. But for this we will have to enrich our models because we will not be able to face them with traditional offers. We are fortunate to be a company that does not only talk about cars but that has a 360 ° vision of the French economy, in particular with the Cetelem brand. Our goal: to find solutions for these customers to purchase cars that display the Crit’Air 1 “stickerreveals.
A new offer is expected to be revealed in the coming weeks.