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Weekly Recap: Marchionne's Manifesto again calls for industry consolidation

Sergio Marchionne isn't taking no for an answer. Despite public rebuffs from General Motors and Ford, the leader of Fiat Chrysler Automobiles continues to push for consolidation within the auto industry. His latest assertion came Wednesday when he said a combination of FCA with another automaker could net savings of $5 billion or more annually. No, this isn't about selling his company, he claimed, it's about cutting costs. Put simply, the auto industry wastes money, Marchionne said during FCA's earnings conference call. Companies invest billions to develop basic components that all cars use, but many consumers don't care how they work or recognize the differences. "About half of this is really relevant in terms of positioning the car in the marketplace," he said. "The other half, in our view, is stuff which is neither visible to the consumer nor is it relevant to the consumer." In 2014, top automakers spent more than $100 million on product development, FCA estimated. Marchionne said consolidation could save up to $1 billion on powertrains alone, noting that almost every automaker offers four- and six-cylinder engines. Not everyone has to make their own, he contended. "The consumer could not give a flying leap whose engines we are using because they are irrelevant to the buying decision." That's pretty provocative for enthusiasts, but less so for average consumers. Still, there are major differences in power and efficiency ratings, even among similar engines. Skeptics could argue consolidation would also weaken competition and reduce choices for car buyers. Marchionne stressed his presentation, curiously entitled Confessions of a Capital Junkie, wouldn't require closing factories or dealerships. It's not his final "big deal" as CEO, intent to sell FCA, or a way to elevate his company up the automotive food chain. He claims he wants to fundamentally change the industry and its habit for burning cash. "The horrible part about this, and the thing that I find most offensive, is that the capital consumption rate is duplicative," he said. "It doesn't deliver real value to the consumer and it is in its purest form, economic waste." Other News & Notes Ford Profits dip in first quarter Ford profits fell $65 million to $924 million in the first quarter, hampered by slight dips in revenue and sales.

Aston Martin closing deal with Force India F1 team

Aston Martin is returning to the Formula One grid. Only instead of starting its own team – or even taking control of an existing one – the British automaker is reportedly on the verge of announcing a new partnership with the Force India team. According to Autosport, the deal would see the team switch names from its current national identity to Aston Martin Racing. Beyond naming rights, however, the partnership could see the two outfits partner on technical collaborations as well. The Johnnie Walker whisky brand – a longtime McLaren partner – is said to be joining as a sponsor of the newly rebranded team, which has previously featured branding from whisky brands Royal Challenge, Whyte & Mackay, and Dalmore. The current engine deal with Mercedes (which owns part of Aston Martin) is expected to stay in place. Force India isn't the only team Aston Martin is said to have evaluated. Previous reports had linked the manufacturer of luxury GT cars to Red Bull, while Williams was also said to have been under consideration for such a partnership. Ultimately, however, it appears to be cash-strapped (and strong-performing) Force India that has sealed the deal, expected to be announced in due course. If the notion of an automaker sponsoring (but not running) an F1 team strikes you as odd, it isn't without relevant precedent. Infiniti has long sponsored the Red Bull team that is powered by its corporate cousin Renault. That deal was brokered while the Japanese luxury brand was chaired by Andy Palmer, who now runs Aston Martin. Aside from considerable achievements in sports car racing, the British firm only participated in F1 for a few races in 1959 and 1960. The deal would put an end to the Force India name that has adorned the team since Indian businessman Vijay Mallya took it over late in 2007. Mallya, it should be noted, helms United Spirits Limited, which produces all those beverages mentioned previously that have sponsored Force India. The team was founded in 1991 as Jordan Grand Prix, under whose name it ran until 2005 when it switched ownership and name first to Midland and then to Spyker. Mallya sold nearly half of the team's stake to the Sahara India Pariwar conglomerate in 2011. Since taking over the team, Force India has gone from a back-marker in tenth place to a solid midfield contender routinely landing sixth in the championship standings and currently running fifth this season.

Aston Martin Valkyrie gets a track package, moves closer to production-ready

Aston Martin continues to trickle out news for the upcoming Valkyrie hypercar, and today it's telling us about an AMR Performance Track Pack that will be on offer. We've previously told you about the Valkyrie AMR Pro, which is a track-only version of the car Aston intends to build. This new package will be on offer to the 150 lucky folks who will be buying the road-going version of the Valkyrie. The Track Pack consists of a new front clam producing greater downforce, a second set of exterior body panels, a track-focused suspension lowered by 2 inches, titanium braking components and magnesium wheels with carbon fiber discs covering them. All this results in lap times that are supposed to be 8 percent quicker than the standard car — an impressive improvement over a car with bonkers performance to begin with. The only catch you might ask? With the Track Pack accessories fitted, the Valkyrie loses its road-legal status like the AMR Pro. You'll need to hand the car over to Aston for them to put it back to street-spec after your track day is done. Aston Martin also announced some customization options that will be available for the car. The only limit here is your pocketbook, folks, as Aston's personalization program, Q by Aston Martin, will be helping buyers make the cars exactly the way they'd like. Four designer spec themes will be offered to those not interested in total custom work. Wherever you see paint or trim, carbon fiber is most likely possible. Colors and material choices on the interior will be up to your imagination, as well. The wildest option available appears to be the Gold Pack, wherein 24-carat gold livery is laid under the paint. Check out all the pictures of custom examples Aston has come up with on its simulator up above — this is going to be one sweet car, not to mention the 1,000 horsepower 6.5-liter Cosworth V12 that revs to 11,100 rpm. Related video: