Why Fiat's CEO saying "don't buy our electric cars" makes perfect sense
Fiat’s chairman, and respected automotive industry leader, Sergio Marchionne, has come out and said it. EVs are not working out the way many had hoped. If the leader of just one of the top five largest auto companies on Earth had the guts to do this it would be easy to say it is just one person’s opinion. However, there is the also the fact that Toyota is saying the same thing and more. Toyota is the largest automaker and the largest retail supplier of automobiles in America.
This week Mr. Marchionne offered up a plethora of excellent little quips. For example, Reuters reports that at an auto conference Wednesday he said with regard to the near micro-car, Fiat 500e (electric), "I hope you don't buy it because every time I sell one it costs me $14,000, I'm honest enough to tell you that." In case that wasn’t completely clear he also said "I will sell the (minimum) of what I need to sell and not one more. If we just build those vehicles, we'll be back asking ... in Washington for a second bailout because we'll be bankrupt.”