GM Executive Slams the Apple Car by Calling it a ‘Gigantic Money Pit’ [VIDEO]


While speaking with CNBC, former General Motors’ Vice Chairman Bob Lutz has said that the Apple Car is going to be nothing more than a ‘gigantic money pit’, as the Cupertino giant has no experience in the automotive industry. The executive’s views appear to have come in response to yesterday’s report by the Wall Street Journal that Apple is getting ready to ship its first electric car by 2019.

“There’s no reason to assume Apple will do a better job than General Motors, Ford, Volkswagen, Toyota or Hyundai. I think this is going to be a gigantic money pit,” Lutz said.

Check out the video clip in which the GM executive discusses why Apple shareholders shouldn’t be excited about the company’s development of an electric car:

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  • Johns

    With GM recalling over 2.6m from a deadly ignition switch defect paying out almost $1.5b, GM doesn’t seem to experience either.

  • Corey Hoffarth

    Didn’t Steve ballmer say something very similar about the iPhone in 2007. Something along the lines of Windows already has phones available and no one will buy an iPhone at an inflated price point and Apple has zero experience in the phone space. Since Steve jobs came back people have continued to doubt apple and the consumers loyalty to the company. And nearly every time apple dominates whatever segment they enter

  • Danny Cheung

    Will i need to upgrade every year? iCar S, S for speed from 100 hp to 105 hp 😉

  • OliChabot

    I heard the same story before with the launch of the iPhone, iPad, Watch…

  • johnnygoodface

    Doesn’t that sound like Steve Ballmer in 2007?
    Ok, let’s make a deal a watch this video from GM in 10 years and we’ll have a laught!

    Oups … sorry Corey… you got the same reasoning as I have

  • xxxJDxxx

    Great designers, great engineers, people who know how to source, acquire and negotiate on quality parts, knowledge of mass assembly and production. Just a few of the parallels between the two industry’s.