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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.

Autoblog Video: Looking back on the 1965 Shelby GT350

The first Shelby GT350 Mustang came out a year after the first Ford Mustang, a collaboration between the carmaker and Carroll Shelby bent on making the Mustang a race winner. Perhaps even better than the car is Shelby's story behind its creation, when Ford chairman Lee Iaccoca gave him the "impossible job" of turning "a secretary's car... into a sports car." Shelby and his cohorts got that job done immediately, taking three SCCA B-Class national championships. The latest Ford Shelby GT350 is coming a year after the latest Mustang's debut, and it's certainly got the specs on paper to look like a track monster, especially in GT350R form. This year the Rolex Monterey Motorsports Reunion celebrated the 50th anniversary of the Shelby GT350 Mustang, and the Pebble Beach Concours D'Elegance featured the car in a special category. We took the opportunity to look at what makes the old GT350 so special, and why the new one stays true to the legendary name. Check it out in the video above. Related Video:

2015 Ford Mustang spied on video for the first time

Not many cars will continue to hold our rapt attention quite like the upcoming redesigned 2015 Ford Mustang, codenamed S550 internally. Earlier this month, we brought you the first spy photos of a next-gen Mustang prototype out testing, and even though expertly placed cladding concealed the pony car's new shape, we could tell that underneath was hiding an altogether new form inspired by the Evos Concept from 2011.
Today we give you some video of what looks to be the same Mustang prototype, which you can watch below, and while the budding director behind the camera wasn't able to capture much in the way of the engine's audio signature, we can see the car in motion for the first time and compare its relative size and shape to the S197 Mustang GT that's on its tail.