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Mercedes-Benz’s Smart city car is the champion European money-loser, and electric cars are likely to be the next big one, according to a report from Bernstein Research The little two-seat Smart has lost a total of about $4.6 billion over the lifetime of the project, that’s the equivalent of $6,100 per car, Bernstein said in a report, published at the same time as a survey from Foster City, California based CarInsurance.com pointed to the Smart as the most embarrassing car to be seen in. “Our guess for the [future] most likely failures? We’d argue electric cars – from Renault to VW to BMW – look likely to qualify. Electric vehicle evangelists seem to be enjoying a Tesla-powered rush of blood to the head, after the American company’s sales success,” Bernstein said. Renault of France has committed to spending $5 billion to produce a range of electric cars, and once said global sales of battery-only vehicles would reach 10 per cent of global sales by 2020. “But we’re not convinced that these European electric products can make money – in fact for the ones with big volume hopes like Renault, they have the potential to lose a huge amount,” Bernstein said...more MORE LIKE THIS: Car market teeters between recovery and relapse 17 Sep 2013 STOCK MARKET VIEW | US car sales forecasts revised upwards 19 Sep 2013 Shares of Tesla Motors hit new records as investors pile in
15 Aug 2013 |
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