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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.

Catch these four Aston Martins in Bond 25, 'No Time to Die'

Unless Aston Martin is holding a trick up its sleeve, an Aston Martin Rapide E will not be appearing in the new James Bond movie "No Time to Die," as we'd previously thought. The film will, however, feature the Valhalla, the DBS Superlegerra, the V8 Vantage and the DB5, as confirmed by a recent tweet.  As the anniversary of when the first Bond film "Dr. No" was originally released in 1962, Oct. 5 has been deemed Global James Bond Day. To celebrate the occasion, two things were unveiled: the first movie poster for "No Time To Die" and Aston Martin's movie lineup. Playing to the 25th anniversary, Aston will include classic models, current cars, and future rides. Part of this news is not really news. We knew both the V8 Vantage and the DB5 would be in attendance, but the inclusion of both the DBS Superleggera and the Valhalla is a nice surprise. There's no word whether the DBS will be one of the "On Her Majesty’s Secret Service" special-edition examples, but we doubt it. The pairing of the Superleggera and the Valhalla sparks excellent memories of the epic Aston Martin DB10 vs. Jaguar C-X75 chase scene from "Spectre." We can only hope we're so lucky to see these cars in yet another romp. Few numbers about the Valhalla's powertrain have leaked, other than it will be mid-engined with a twin-turbocharged V6 with F1 tech, but it's doubtlessly capable of battling the DBS, which has a 715-horsepower twin-turbocharged 5.2-liter V-12.  We'll find out how involved each vehicle is on April 8, 2020, the day "No Time To Die" releases. Past, present and future. To mark the 25th Bond film, #NoTimeToDie, four of our cars will be featured in the film. From the classic DB5 and V8 Vantage, to the new DBS Superleggera and Aston Martin Valhalla, there is something for every Bond fan.#JamesBondDay@007 pic.twitter.com/cmKvswriHo — Aston Martin (@astonmartin) October 5, 2019 Celebrate #JamesBondDay with the first poster for #NoTimeToDie #Bond25 pic.twitter.com/EoU4PXhxwX — James Bond (@007) October 5, 2019

Drive an Aston Martin | The List #0568

Few cars can drum up feelings of intrigue like an Aston Martin. On this episode of The List, hosts Jessi Combs and Patrick McIntyre travel to England, the birthplace of Aston Martin, to drive the V12 Vanquish and learn more about this luxurious brand. From exploring narrow country roads to braving a rain storm on the track, we put this beautiful British sports car to the test. The 2016 V12 Vanquish is a sight to behold no matter the road, but there's something special about driving it around England. We visited the Aston Martin Works in Newport Pagnell, the site of an Aston factory from 1954 - 2007, to learn more about the brand's past. From the DB4 all the way to the Vanquish, the beauty of these hand-built machines has stayed consistent throughout their history. After admiring the classics, it was time to push the shiny new Vanquish to its limits on the track. Fighting through intermittent rain didn't make it easy. "Getting a little squirrelly for sure," said a visibly excited Patrick. "Too much. Way too much on that one." When it was Jessi's turn, her self-proclaimed lead foot actually led her to an interesting conclusion about the vehicle. Because of the subpar track conditions and because the car is in fact a grand tourer, Jessi actually makes that claim that "I think I'd rather have it out on the open road." Regardless of environment or driving conditions, it's certain that the Vanquish is an incredibly impressive machine. Perhaps most importantly, it helped us check "Drive An Aston Martin" off of our List. Click here to find more episodes of The List Click here to learn more about our hosts, Jessi and Patrick Aston Martin Luxury Performance Supercars The List Videos Original Video aston martin vanquish