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May 22, 2014

‘Don’t Buy Fiat 500e’

Company loses 14K for each one sold.

Here’s another example of how the government’s obsession with alternative energy is bad for business: Sergio Marchionne, chief executive for Fiat Chrysler Automobiles, told an audience at the Brookings Institution his company loses money on each sale of its 500e electric car. “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 isn’t the 500e in the junkyard of history? Oh wait, it’s the web of federal and state mandates that keep the 500e rolling off production lines. Until the government realizes the free market doesn’t accept electric cars because they aren’t going anywhere anytime soon, Marchionne “will sell the (minimum) of what I need to sell and not one more.” More…

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