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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 V12 Speedster DBR1 specification pays homage to a beautiful race car

Aston Martin debuted the limited-run V12 Speedster over a year ago, and today it’s introducing a special edition version of the roofless and windshield-less supercar. ItÂ’s called the DBR1 specification, as it takes after the DBR1 race car from the 1950s.  YouÂ’ll immediately see the resemblance between the two in the gorgeous photos above. The V12 Speedster is finished in the same Aston Martin Racing Green paint, and features the same Clubsport White pinstripe and roundels. A Satin Silver anodized finish is applied to the grille to match, and a Clubsport lipstick graphic caps off the front. You also get 21-inch center-lock wheels finished in a Satin Black paint — Aston says each Speedster in this spec spends over 50 hours in the painting process alone. YouÂ’ll get Conker saddle leather on the inside that is complemented by Viridian Green textile and Caithness leather. The interior also features glossy carbon fiber trim and satin silver brushed aluminum switchgear. Aston says this combo is its modern interpretation of the DBR1Â’s interior. And do remember that there is no roof — we have a feeling that you donÂ’t want this interior getting wet. In case you were curious as to why Aston Martin is using the DBR1 as inspiration here, you should know that the car has a rather commendable history in racing. It won the 1959 24 Hours of Le Mans, is a three-time winner of the 1,000-km of Nurburgring and also took the World Sportscar Championship the year it won Le Mans. On top of that, itÂ’s just flat-out gorgeous. “Creating a bespoke specification that nods to the glory of the DBR1 has been a huge privilege for my team and I, and I very much look forward to seeing these cars being driven with the same enthusiasm that we have applied to their design,” says Marek Reichman, Aston's chief creative officer. This DBR1 specification features the same vitals as the standard V12 Speedster. That means it has a 5.2-liter twin-turbo V12 under its hood that makes 700 horsepower and 555 pound-feet of torque. ItÂ’ll do 0-60 mph in 3.4 seconds on its way to a 198 mph top speed. Have fun doing that without a windshield. Aston says you can order a V12 Speedster in this spec now and expect delivery in mid-2021. No price for the DBR1 was given, but the car starts at about $950,000. We suspect this one is a good bit more, likely arcing past the $1 million mark. Related video:

Aston Martin reboots its EV offensive with Mercedes-Benz technology

Mercedes-Benz will provide Aston Martin the technology it needs to enter the electric car segment, according to the British firm's top executive. Its first battery-powered model is scheduled to arrive in 2025 at the earliest. As we've previously reported, Mercedes will increase its stake in Aston Martin to 20% by 2023. In exchange, it will grant the company access to its hybrid and electric powertrains. It's a win-win situation: On one hand, Mercedes can leverage the benefits of economies of scale. On the other hand, Aston Martin (which is far smaller) is able to access turn-key technology without spending an exorbitant amount of money on development. Executives are consequently rebooting Aston Martin's on-again, off-again electrification offensive. Its first electric model will be built using Mercedes-Benz-sourced technology when it goes on sale in 2025 or 2026, according to Automotive News Europe. Company boss Tobias Moers (who ran Mercedes-AMG until earlier in 2020) clarified the platform will come from Germany, but there's no word yet on whether the motor and the battery will, too. However, he confirmed plans to resurrect the Lagonda name on an electric-only sub-brand have been canceled. "Lagonda has a different purpose for the future. Electric-driven cars are supposed to be Aston Martins," he said. Hybrids are in the pipeline, too, including a gasoline-electric version of the high-riding DBX. Engineers were previously developing the technology in-house, but the project could end up in the automotive ash heap now that more Mercedes powertrains are in the picture. Moers affirmed he hasn't decided which route to take yet. "We are still working on that [hybrid drivetrain], but now we have alternatives. It's too early to say," he noted. Aston Martin will release the mid-engined Valhalla in 2021, and the plug-in hybrid DBX will begin rolling off the production line in 2023. Several new models will make their debut that year, Moers promised a "product firework," and it's reasonable to assume most will be available with some degree of electrification. He predicted every fourth or fifth car Aston Martin sells in 2024 will be electrified in one way or another. Green blues Aston Martin's path to electrification hasn't been smooth. In 2015, it joined forces with China-based LeEco to build an electric variant of the Rapide, but it was forced to finish the project on its own after its partner canceled the deal due to financial issues.