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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.

2015 Aston Martin Vanquish [UPDATE]

There's something really special about an Aston Martin Vanquish. It's not my favorite model in the British automaker's range – I'm more of a Vantage guy, if I'm being choosy. But every time I drive one, I feel like I'm piloting something fit for royalty, $300,000 price tag and all. It's stunning to look at, even in the rather drab shade of gray pictured here. It makes an absolutely killer noise, the free-breathing V12 firing from beneath the hood and out the back with a truly intoxicating sound. And from behind the wheel, it feels like a truly proper grand tourer. Well, almost. The one major hiccup with the Vanquish I drove last year was its six-speed automatic transmission. In a word, it was awful. Really jarring shifts, delayed manual control through the paddles, and really, just a hugely misaligned piece of an otherwise excellent puzzle. So I was happy to hear that for 2015, Aston Martin had fitted a new, ZF-sourced, eight-speed unit – you know, the transmission being used by automakers like BMW, Jaguar, Audi, and many more. I normally have zero issues with this silky gearbox. But in the Vanquish, it wasn't smooth sailing like I expected – it feels like it still needs some final calibrations. But that doesn't make this car any less special. Drive Notes I love this engine. The 5.9-liter, naturally aspirated V12 makes 569 horsepower and 465 pound-feet of torque, and it absolutely loves to rev. That's a good thing, since the siren song of the Vanquish's V12 is most pronounced at higher engine speeds. In fact, it's not really all that audible right from the get-go. You have to work it up past 2,500-3,000 rpm before this thing really starts to sing. But when it's turned up to 11, it's one of the best-sounding engines I've ever heard. That said, getting the Vanquish going is kind of an awkward process. There's a surprising momentary lack of power delivery right at throttle tip-in, and then the Vanquish suddenly jolts forward. It's alarming – I found myself raising an eyebrow and yelling "GO!," especially when trying to quickly merge into the traffic flow. But it'll go, when it's ready, and hitting 60 miles per hour takes just 3.6 seconds. The transmission is still an issue here. When left to its own devices, it doesn't have a problem finding the right gear for the occasion, but the actual shifts don't fire off with the smoothness and quickness that I've come to expect from this tranny in other models.

Bonham's will auction Paul McCartney's old Aston Martin DB5

At the company's Bond Street, London auction, Bonham's will offer a 1964 Aston Martin DB5 that is possibly one the most British cars around. Not only is it an example of a classic British sports car known for being driven by James Bond, this exact car was purchased new by Sir Paul McCartney. And as an added bonus, it was also previously owned by former Top Gear host Chris Evans. According to Bonham's, McCartney ordered the car after The Beatles appeared on the Ed Sullivan Show and after finishing the Hard Day's Night movie. It was originally finished in blue with a black leather interior, which you can see here. It came with a couple of nice touches for a musician, as well. It had a Philips Auto-Mignon automotive record player installed, one of which remains with the car. The auction company also mentions a rumor that the leather had stitched-in musical notes. McCartney kept the car for about six years after buying it in 1964, and he seemed to have driven it a fair bit. When the clutch was replaced in 1970, the odometer read a bit over 40,000 miles, which is impressive considering how much traveling McCartney was surely doing with The Beatles. The car changed hands a number of times in subsequent years. In 2002, it was restored and once again finished in blue with a black interior. It wasn't until its second restoration that started around 2012 and 2013 that the color scheme changed to silver with a dark red interior. That restoration wrapped up this year and included updates to the engine that increased displacement from 4.0 liters to 4.2 liters and upped compression. The results are an engine that jumped from 282 horsepower to 315 horsepower and from 280 pound-feet of torque to 305. The car will be auctioned on December 2 at the Bond Street auction in London. Bonham's predicts the car will go for between $1.6 million and $2 million. Interestingly, that's only a little above Hagerty Insurance's estimate of $1.4 million for a concours-quality DB5. It's also substantially more than the roughly $500,000 this exact car sold for back in 2012. Related Video: Featured Gallery 1964 Aston Martin DB5 owned by Paul McCartney View 13 Photos Image Credit: Bonhams Aston Martin Auctions Coupe Classics bonhams chris evans aston martin db5