Bob Lutz may be an icon of the automotive industry, but he is also a protector of the Detroit old guard automotive types.
So when Bob says, "And when it comes to actually making cars," Lutz said, "there is no reason to assume that Apple, with no experience, will suddenly do a better job than General Motors, Ford, Volkswagen, Toyota or Hyundai. So I think this is going to be a gigantic money pit, but then it doesn't matter. I mean Apple has an embarrassment of riches, they don't know where to put the cash anymore. So if they burn 30 or 40 billion dollars in the car business, no one's going to notice.",
I hear: "Apple may force the old guard automotive types to once again step up to the plate and innovate and compete with this newcomer called Apple." And they hate to change unless forced to. Change costs money they hate to spend.