Even Fiat's CEO Doesn't Want Us to Buy the 500e

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It's a waste of money even to build.

Well, at least he’s being completely honest. Fiat Chrysler CEO Sergio Marchionne has always been known for letting his opinions be known. Only this time, he’s asking the public not to buy one particular model his company sells: the Fiat 500e. Marchionne was speaking last week at the Brookings Institute when he admitted that he was tired of losing money on the 500e. "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."

So why did Fiat develop and now sell the 500e? Those damn pesky federal and state mandates, that’s why. "I will sell the (minimum) of what I need to sell and not one more," he summarized. Marchionne also stated that the only automaker earning money on EVs right now is Tesla, and that’s because the Model S isn’t cheap. "If we just build those vehicles (EVs), we’ll be back asking…in Washington for a second bailout because we’ll go bankrupt."

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