Screen Shot 2015-09-22 at 7.00.16 AM
Courtesy of CNBC

GM exec disses the Apple car, calls it a ‘gigantic money pit’

No one has made a nickel selling electric cars, Bob Lutz told CNBC Monday, responding to reports that Apple has redoubled its automotive efforts and is aiming to introduce an electric car in 2019 or 2020.

"Apple has no experience," Lutz said. "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."

Apple has heard this kind of talk before. Most famously, from Palm's Ed Colligan, two months before Steve Jobs unveiled the iPhone.

“We’ve learned and struggled for a few years here figuring out how to make a decent phone,” he told the New York Times' John Markoff. “PC guys are not going to just figure this out. They’re not going to just walk in.”

There's a pattern to these remarks. It's the brave talk of an incumbent on the eve of disruption.

For a deeper look under the hood, see:

.

Follow Philip Elmer-DeWitt on Twitter at @philiped. Read his Apple (aapl) coverage at fortune.com/ped or subscribe via his RSS feed.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions