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Autoblog Minute: New Civic, FCA UAW Agreement, Frankfurt

FCA reaches a tentative agreement with the UAW, Honda reveals the all-new 2016 Civic, and the Frankfurt Motor Show dazzles us again. Autoblog senior editor Greg Migliore reports on the Weekly Recap edition of Autoblog Minute. Show full video transcript text [00:00:00] FCA reaches a tentative agreement with the UAW, Honda reveals the all-new 2016 Civic, and the Frankfurt Motor Show dazzles us again. I'm senior editor Greg Migliore and this is your Autoblog Minute Weekly Recap. FCA reached a tentative labor agreement with UAW leadership. The major focus of the new deal reportedly includes: the eventual elimination of the two-tier pay scale [00:00:30] and pooling worker health care. Now that a leadership agreement is in place, the deal will be sent to FCA's rank-and-file. FCA has about 36,000 hourly employees. We got a first look at the interior and exterior of the 10th-generation Civic. Honda expects the new sedan to dominate the C-segment when it hits dealerships later this fall. Civic coupe, five-door hatchback, Si and Type R will all come later. The 2015 Frankfurt Motor Show is in the books and there was a lot of news to get excited about. [00:01:00] Porsche introduced a fully electric concept car in the Mission E. If they make this car, Porsche could give Tesla nightmares. We also saw SUVs from Jaguar and Bentley. There were two beautiful Italian convertibles from Ferrari and Lamborghini. Meanwhile, Mercedes introduced a concept of their own in the IAA - a vehicle that experiments with adaptable aerodynamics. Those are the highlights from the week that was. Be sure to check out my full recap this Saturday. Plus we'll have some added insight on General Motors' deal to [00:01:30] avoid federal prosecution. For Autoblog, I'm Greg Migliore. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals. UAW/Unions Frankfurt Motor Show Bentley Chrysler Ferrari Honda Jaguar Lamborghini Mercedes-Benz Porsche Rolls-Royce Tesla Convertible SUV Concept Cars Electric Supercars Autoblog Minute Videos Original Video porsche mission e concept

A Ferrari SUV? First you'll have to shoot Marchionne

Almost every car company has its own SUV in the range. Porsche added this kind of vehicle almost 15 years ago and it may have saved the company, Bentley decided to join this growing segment launching the Bentayga, and Jaguar is doing the same with the F-Pace. Everyone is trying to get the most from the growing Asian market (China especially) launching models very appreciated over there. But not Ferrari. This is what came out from an earnings call with the Ferrari CEO where analysts asked how he was thinking to reach the goal of selling 7,000 units/year, balancing the slump of 22% of the Chinese market: "I don't think it's going to recover this year," said Marchionne, "but we won't make an SUV. You have to shoot me first." Since the spin off from Fiat Chrysler Automobiles, Ferrari's share price has fallen and this news is not good for investors that expected high profit for 2016. Ferrari has a racing history, and SUVs are not to be part of this history any time soon; the image of the Prancing Horse would come out damaged from this choice and Marchionne seems to know it very well. Related Video: Image Credit: Ferrari Ferrari Crossover SUV Sergio Marchionne open road

Ferrari CEO could retire Friday letting Marchionne step in

Rumors once again suggest that current Ferrari CEO Amedeo Felisa plans to retire from the role. Anonymous insiders tell Bloomberg that the announcement could come as soon as April 15, with an announcement at the company's upcoming investors meeting. Sergio Marchionne is the favorite to become the new CEO, the unnamed sources claim. Felisa would step down as CEO after Ferrari nominates its new board of directors, according to Bloomberg. He would likely retain a seat on the board and could still do some work at the company. Felisa joined the sports car maker in 1990 as director of product development. He replaced Jean Todt as CEO in 2008. Marchionne is already Ferrari's chairman, and taking on the CEO role in addition would give him greater control over the brand's future. Bloomberg's insiders note that Marchionne's takeover isn't final yet, and someone else could conceivably get the role. The sweater-wearing exec has a clear view for Ferrari's future, though. He plans to increase volume to around 10,000 vehicles a year, but he's staunchly against building an SUV or an EV. If he takes control, expect him to work out a plan to increase the Prancing Horse's share price. At its October IPO, the stock started at $52 a share; today it opened at $41.24. Rumors about this shift have been swirling for months. For example, reports from Italian media in June 2015 suggested Felisa would retire as CEO. Subsequent rumors claimed Marchionne was the frontrunner to take over the position. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.