Poor Sergio Marchionne. The CEO of Fiat-Chrysler Automobiles recently opened up about the hardships he faces from the dastardly Fiat 500e. During a panel discussion at the Brookings Institution in Washington, he remarked that every time a 500e sells, his company loses $14,000.
Actually, Marchionne said, “it costs me $14,000” but it seems unlikely that the loss is coming out of his bonus (although that has not been confirmed). The CEO was discussing the lasting effects of the automaker’s infamous federal government bailout, and apparently everything is not just roses after Chrysler announced it could not pay the taxpayer dollars back.
Marchionne not only divulged how much the company loses with each sale of the 500e, which would inevitably come out, he also pleaded with people to not buy the fully-electric car. It was certainly an unconventional move on the CEO’s part, with only a few other automotive bosses in history asking people to please not purchase their cars.
Back in 2013, Marchionne said that the company was bleeding out $10,000 for every Fiat 500e it would sell. Why the company’s loses have mounted by another $4,000 isn’t clear.
The good news for Fiat-Chrysler Automobiles is that the Fiat 500e is only available for purchase in sunny California, where people appreciate low emissions and organic salads. There, consumers can lease one for as little as $199 a month, or purchase the car for $32,300 before government incentives. Why the company doesn’t raise the price a little on the electric car is a mystery. What isn’t mysterious is why the 500e even exists — it was created to fulfill the zero emissions mandates in the single largest vehicle market in the nation.
If you really want to make Marchionne cry, drive to California and buy a Fiat 500e. Hell, buy two and thank the company for how it used your taxpayer dollars.