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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 mulls Formula E, but one thing must change

It may be the off-season, but Formula E is on fire. It seems that everybody is scrambling for a spot on the grid. Jaguar relaunched its racing program in the electric series, and is doubling down with a support series. Audi took a more prominent position for next season. BMW's in. Mercedes-Benz will be joining, too. Porsche has ditched WEC for Formula E. FCA is interested. So it shouldn't be too surprising, then, that Aston Martin is now considering a Formula E entry, as Automotive News Europe reports. Aston Martin CEO Andy Palmer told the outlet that the series could support the company's development of electric vehicles, such as the upcoming RapidE, pictured above. "We don't have an electric car yet, but we will have in 2019," he said. "You can imagine the two coming together. I love Formula E." Palmer said, though, that Aston Martin wouldn't want to join the series until it does away with car swaps mid-race. "For me, the use of the two cars reinforces the range anxiety," Palmer told Automotive News Europe. "That will change, and then it starts to get interesting." In the past, other automakers have expressed similar concerns about car swaps. The upcoming season will be the last to use the practice, and Formula E will move toward using a single car per driver for each race beginning in the 2018-19 season. Aston Martin scaled back plans for the RapidE electric car after its partner LeEco pulled out of the project. Instead, Aston Martin will rely on the engineering expertise of Williams, and limit the RapidE to 155 units, priced at around $255,000. Related Video: Featured Gallery Aston Martin RapidE concept View 12 Photos News Source: Automotive News EuropeImage Credit: Aston Martin Green Motorsports Aston Martin Electric Racing Vehicles Formula E aston martin rapide fia formula e championship

Aston Martin wants to get involved in F1 engines

LONDON — British luxury sportscar maker Aston Martin is looking to get more engaged in Formula One, chief executive Andy Palmer said on Sunday amid speculation of a title partnership with Red Bull and future engine involvement. "We want to be more involved in the sport," Palmer told Britain's Channel 4 television while attending the Singapore Grand Prix. "We're currently studying the 2021 engine. If we get a reasonable regulation that brings down the cost of the engine, Aston would like to be involved in the engine," added the Briton. "And then of course we'd like to be involved a little more next season and then join the dots. But it really depends on what happens with the engine regs." Red Bull and Aston Martin have an existing relationship, with the team's race cars carrying branding for the marque since last year. Top designer Adrian Newey, whose Renault-powered Red Bull race cars won four successive drivers' and constructors' titles between 2010-13, has worked with Aston Martin on the AM-RB 001 Valkyrie 'hypercar'. Media reports have suggested Aston could become Red Bull's title sponsor next season. Former Nissan executive Palmer was a key figure in negotiating just such a previous deal for the Japanese manufacturer's Infiniti brand, which has now gone to the Renault works team, to partner Red Bull. The British-based team currently use Renault engines, branded Tag Heuer. Formula One, under new management since U.S.-based Liberty Media took over in January, and the governing FIA are looking at what sort of unit will power the series once the current agreement expires in 2020. The aim is to bring down costs and allow a cheaper and less complex engine than the current 1.6 liter V6 turbo hybrid power units, one that could also encourage new manufacturers into the sport. Aston Martin, a 104-year-old firm whose road cars have become closely associated with fictional British secret agent James Bond, last competed in Formula One in 1960. The company is now owned mainly by Kuwaiti and Italian investors and is seeking to boost its share of U.S. markets. Last month Aston reported its first half-yearly profit in almost a decade and it expects full-year volumes to rise by around a third to roughly 5,000 cars. Reporting by Alan BaldwinRelated Video: Motorsports Aston Martin Renault Technology Emerging Technologies Racing Vehicles F1 adrian newey