Fiat-Chrysler CEO: Please Don't Buy The Fiat 500e
Company loses $14,000 on every electric vehicle sold
While CEO Sergio Marchionne was speaking at a conference in Washington, he told the crowd he's tired of Chrysler-Fiat losing money, The Detroit News reported.
"I hope you don't buy it [the 500e] because every time I sell one it costs me $14,000," he said to the audience at the Brookings Institution. "I'm honest enough to tell you that."
Marchionne said federal and state fuel efficiency mandates are forcing the automaker to build unprofitable cars, according to Reuters. A normal Fiat 500 starts at $16,195, and the 500e starts at $32,650, before federal and state tax credits. There are no sales data to indicate how the 500e is performing.
- Great used cars for less than $10,000
- Owners say these cars aren't very good deals
- New Car Buying Guides
- Cheapest new automobiles in America
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models