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When was the last time you ever heard the CEO of a major automaker say don't buy our car? Never? Well Fiat Chrysler Automobiles' CEO Sergio Marchionne may be the first one. Reuters reports that Marchionne told an audience at the Brookings Institution in Washington D.C. last week that anyone considering the Fiat 500e should not buy it. "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," said Marchionne. "I will sell the (minimum) of what I need to sell and not one more." So why did FCA build the 500e in the first place then? It comes down to the California Air Resources Board mandate which requires the six automakers selling the most cars in the state to sell vehicles with no tailpipe emissions at all from 2012 through 2017. Vehicles such as the 500e are known as compliance vehicles. Source: Reuters William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. -
When was the last time you ever heard the CEO of a major automaker say don't buy our car? Never? Well Fiat Chrysler Automobiles' CEO Sergio Marchionne may be the first one. Reuters reports that Marchionne told an audience at the Brookings Institution in Washington D.C. last week that anyone considering the Fiat 500e should not buy it. "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," said Marchionne. "I will sell the (minimum) of what I need to sell and not one more." So why did FCA build the 500e in the first place then? It comes down to the California Air Resources Board mandate which requires the six automakers selling the most cars in the state to sell vehicles with no tailpipe emissions at all from 2012 through 2017. Vehicles such as the 500e are known as compliance vehicles. Source: Reuters William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article
