https://finance.yahoo.com/news/fca-loses-staggering-20-000-175717430.html FCA loses a staggering $20,000 on every one of its all-electric cars October 2, 2017 Matthew DeBord
[images https://s.yimg.com/ny/api/res/1.2/pzm1V.X2joSqhFRrjhUmaw--/YXBwaWQ9aGlnaGxhbmRlcjtzbT0xO3c9NjUwO2g9NDMz/http://globalfinance.zenfs.com/en_us/Finance/US_AFTP_SILICONALLEY_H_LIVE/FCA_loses_a_staggering_20000-750d7346580d79b3257b535f4827ea82 Fiat 500e https://s.yimg.com/ny/api/res/1.2/FTl8_wH9jBaevhmoByig.Q--/YXBwaWQ9aGlnaGxhbmRlcjtzbT0xO3c9NjUwO2g9NDI2/http://globalfinance.zenfs.com/en_us/Finance/US_AFTP_SILICONALLEY_H_LIVE/FCA_loses_a_staggering_20000-38d756531f94f798a944f4682a169ae2 ] ($20,000 in the hole.FCA) Automakers are rapidly embracing an all-electric future. But there's a catch: Nobody has figured out how to make a profit on electric cars. On Monday, General Motors pledged that it would unveil 20 new electric cars by 2023, effectively committing the company to an all-electric portfolio at some point in the future. GM Vice-President Mark Reuss said that the carmaker would be profitable in the undertaking. At the moment, the industry is unclear on when those profits will arrive. And some automakers are losing money hand over fist as they struggle to read the crystal ball. Reporting for Bloomberg, Tommaso Ebhardt pointed out that "[B]attery-powered autos have yet to become profitable" and noted that Fiat Chrysler Automobiles CEO Sergio Marchionne said in a recent speech that FCA is losing up to $20,000 a car on the electrified Fiat 500. (But the vehicle isn't unpopular.FCA) The 500e sells in the US for about $33,000 and can travel 87 miles on a single charge. On numerous occasions, Marchionne has complained about how bad a financial deal the vehicle is for the automaker. However, he also knows that FCA doesn't want to be left completely behind in the EV game, so it's not surprising that the 500e remains in the lineup. The 500e also has value as a "compliance vehicle," helping FCA meet government-mandated fuel-economy requirements for the automaker's fleet that's heavy on SUV and pickup-truck sales. It's not hard to understand why the 500e makes Marchionne, an accountant and finance professional by training: in 2017, the company has managed to sell anywhere from about 500 to more than 700 of the vehicle monthly. That's enough demands to keep it around — and to keep facing the $20,000 hit every time a customer drives off the dealer lot. [© yahoo.com] http://www.thedrive.com/news/14895/ferrari-says-no-thanks-to-autonomous-or-fully-electric-cars Ferrari Says 'No Thanks' to Autonomous and Fully-Electric Cars October 5, 2017 ... Fiat-Chrysler CEO Sergio Marchionne once famously answered the question of an autonomous, fully-electric Ferrari by saying "You'll have to shoot me first ... http://imagesvc.timeincapp.com/v3/foundry/image/?q=70&w=1440&url=https%3A%2F%2Ftimedotcom.files.wordpress.com%2F2017%2F10%2Fgettyimages-841889538.jpg%3Fquality%3D85 [dated] http://electric-vehicle-discussion-list.413529.n4.nabble.com/EVLN-Their-CEO-sez-Don-t-buy-the-Fiat-500e-EV-tp4669611.html EVLN: Their CEO sez "Don't buy the Fiat 500e EV" ... $14,000 each time it sells (Fiat) ] Company loses $14,000 on ever electric vehicle Fiat-Chrysler's CEO had a strange request for electric vehicle shoppers on Wednesday: don't buy the all-electric Fiat 500e. While CEO Sergio Marchionne was speaking at a conference in Washington, he told the... May 23, 2014 ... http://electric-vehicle-discussion-list.413529.n4.nabble.com/EVLN-2013-Fiat-500-To-Be-Called-500E-Report-tp4657223.html EVLN: 2013 Fiat 500 To Be Called 500E: Report ... Chrysler says it expects to lose up to $10,000 on each 500E ... Aug 16, 2012 http://www.moneycontrol.com/news/business/mm-will-lose-money-on-every-electric-car-supplied-to-eesl-pawan-goenka-2405823.html We will lose money on every electric car we supply to EESL: M&M's Pawan Goenka Oct 05, 2017 Mahindra & Mahindra will not be making any money on any of the 150 fully electric sedans it has committed to supplying to the government following its aggressive bid which matched Tata Motors ... we have been in the electric vehicle business for sometime and we know the cost ... the M&M EV was more powerful and bigger than the Tata Motors EV ... http://static-news.moneycontrol.com/static-mcnews/2017/07/Dr-Pawan-Goenka-Managing-Director-MM-Ltd-with-the-electric-car-e2O-Plus-at-the-launch-of-Indias-first-Multi-Modal-Electric-Vehicle-Project-in-Nag-535x435.jpg For EVLN EV-newswire posts use: http://evdl.org/evln/ {brucedp.neocities.org} -- Sent from: http://electric-vehicle-discussion-list.413529.n4.nabble.com/ _______________________________________________ UNSUBSCRIBE: http://www.evdl.org/help/index.html#usub http://lists.evdl.org/listinfo.cgi/ev-evdl.org Please discuss EV drag racing at NEDRA (http://groups.yahoo.com/group/NEDRA)
