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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.

The Aston Martin Vulcan is bound for the Big Apple

Following its global debut at the 2015 Geneva Motor Show, Aston Martin has announced that the Vulcan, its 800-horsepower track monster, will make its US debut at next week's New York Auto Show. According to Aston Martin, the Vulcan will lead what is for the brand, a huge display of seven cars, including the Vanquish Carbon Black, Vantage GT Roadster, Rapide S and DB9. "We are enormously encouraged by the overwhelmingly positive reaction we have received from customers and sports car fans around the world in response to the Aston Martin Vulcan," Aston boss Andy Palmer said in the attached statement. "I'm delighted that after a debut in Geneva we are able to bring the car to our North American audience, underlining the importance of this market to our business and its role in delivering our Second Century business plan." Be sure to check back next week for our exhaustive coverage from NYC. Until then, scroll down for the official press release from Aston Martin, and check out our full coverage of the Vulcan's original debut in Geneva. NEW ASTON MARTIN VULCAN SET FOR NORTH AMERICAN DEBUT IN NEW YORK • North American reveal at NYIAS for limited edition, track-only, 7.0-litre V12 supercar • The Aston Martin Vulcan fronts new seven-car Aston Martin display in New York 26 March, 2015, Irvine CA – Aston Martin's most intense and exhilarating creation to date will make its first appearance in North America at the New York International Auto Show (NYIAS) next month. The Aston Martin Vulcan – a track only supercar producing some 800-plus bhp – joins the British luxury sports car maker's presence at NYIAS fresh from a global reveal at the Geneva International Motor Show earlier in March. Fronting a new seven-car display led by CEO Dr Andy Palmer, the Aston Martin Vulcan will be joined by examples from the current Aston Martin product range in North America including the new Vanquish Carbon, Rapide S, DB9, V12 Vantage S and the V8 Vantage GT Roadster. CEO, Dr Andy Palmer commented: "We are enormously encouraged by the overwhelmingly positive reaction we have received from customers and sports car fans around the world in response to the Aston Martin Vulcan.

Aston Martin's CEO says that autonomous cars are only a matter of time

In addition to bringing the Aston Martin AM-RB 001 to its first auto show this week, the CEO of Aston Martin, Andy Palmer, revealed his thoughts on the future of cars. And it's a future full of autonomy and electricity. According to our friends at TechCrunch, Palmer said it's a question of when – not if – autonomous vehicles will reach the public. T echCrunch also reports that Aston plans on offering an autonomous Lagonda in the future. For those of us who love driving ourselves, though, there is some good news: Fully autonomous cars are likely well into the future. Palmer told the Toronto Star that he recognizes autonomous driving is a bit antithetical to a sports car company, saying "we're a driver's car, so we're not in a rush to go driverless." He also pointed out a number of issues that personally concern him about autonomous vehicles, and which have him hesitant to pursue autonomous tech on Astons. His primary concern, according to both TechCrunch and Toronto Star, is the issue of security, but he also wants to make sure the technology is truly ready. TechCrunch reports that he said companies need a full understanding of the tech "before we beta test our customers." This statement seems pointed at Tesla, which has often said that its semi-autonomous Autopilot feature is in beta. In addition to discussing autonomous vehicles, Palmer talked about the future of electric cars, which he finds to be bright. He told the Toronto Star that he believes the future of vehicle propulsion has been decided, and that it will be electricity. He pointed to a shift in focus from the German automakers, as well as the Volkswagen diesel scandal as indicators. Palmer suggested that 25 percent of cars will be powered by electricity sometime in the next eight years, but noted this leaves plenty of room for internal combustion vehicles for a while. Related Video: