A top Nissan Motor Co. executive in North America said the hybrid market remains an unprofitable proposition in the auto industry despite the interest in alternative vehicles.
"Hybrids today are not a very viable economic proposition. It's still a loss-making proposition," said Dominique Thormann, Nissan North America's senior vice president for administration and finance, on Thursday...
Hybrids currently comprise more than 1 percent of the auto market. Federal legislation approved last year provides up to $ 3,600 in tax credits to U.S. consumers who buy hybrids, but automakers are subject to a production limit of 60,000 vehicles eligible for the entire credit.As for the US automotive industry generally, this does not sound good:
"Fifty percent of cars sold in America are sold by companies that lose money selling cars, and that's not sustainable," Thormann said.
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