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Automakers face reality of EVs' cost — to jobs, and their bottom line

Related: We obsessively covered the Frankfurt Motor Show — here's our complete coverage FRANKFURT, Germany — European car bosses gathering for the Frankfurt auto show are beginning to address the realities of mass vehicle electrification, and its consequences for jobs and profit, their minds focused by government pledges to outlaw the combustion engine. As the latest such announcement by China added momentum to a push for zero-emissions motoring, Daimler, Volkswagen and PSA Group gave details about their electric programs that could give policymakers some pause. Planned electric Mercedes models will initially be just half as profitable as conventional alternatives, Daimler warned — forcing the group to find savings by outsourcing more component manufacturing, which may in turn threaten German jobs. "In-house production is almost irrelevant to the consumer," Daimler boss Dieter Zetsche told reporters on the eve of the Frankfurt Motor Show, in the midst of a German election campaign in which automotive jobs have loomed large. The company set a target of saving 4 billion euros ($4.8 billion) by 2025 to help fund the cost of its electric cars. "Daimler is the first company to state explicitly how much electric vehicles are going to hurt margins," said Bernstein analyst Max Warburton. "It was brave to go first — but of course it won't be the last." Volkswagen, for its part, said it was seeking new global supplier contracts to source 50 billion euros ($60 billion) of electric car content including batteries, which are not yet manufactured competitively in Europe. "A company like Volkswagen must lead, not follow," Chief Executive Matthias Mueller told reporters. VW diesel emissions-cheating exposed by U.S. regulators in 2015 triggered global public outrage, dozens more investigations into test-rigging by the wider industry and a push by some lawmakers to ban diesel and eventually all engines. TIGHTENING NOOSE Tesla shares jumped nearly 6 percent on Monday after a Chinese minister said it was a question of when, not if, Beijing bans fossil-fuel cars, tightening the noose around the combustion engine. France and Britain have promised its outright abolition by 2040. But PSA, the maker of Peugeots and Citroens, said it was concerned about the risks if consumers were left behind in the rush, and a new generation of battery cars does not sell.

Mercedes G63 AMG 6x6 is sold out

Sometimes automakers go absolutely bonkers and bequeath a product on the world that makes no logical sense – except to make people grin from ear to ear. The Mercedes-Benz G63 AMG 6X6 is just such a vehicle with six wheels, three axles, five differentials and a 5.5-liter twin-turbocharged V8 making 536 horsepower and 561 pound-feet of torque. The result is a truck that looks more appropriate to handle the dystopian future rather than any paved road on Earth, especially the $1.35 million armored version. Unfortunately, if you have a hankering to own a brand-new example, it's too late because Mercedes is ending production of the behemoth. Since introducing the 6X6 in 2013, Mercedes actually sold more than it originally anticipated by moving more than 100 of them, according to GT Spirit, but the German automaker has ended production to keep the model special. Still, those production numbers aren't too shabby considering the truck's ultra-niche nature and base price of 379,000 euros ($430,000 at current exchange rates). While wealthy clients who desire luxury with their off-roading can no longer order the 6X6, Mercedes isn't entirely abandoning these customers yet. The company is already previewing the G500 4x42 that takes the six-wheeler's pumped up suspension and wheels but reinterprets the look on the more conventional, two-axle body style. Buyers might have to accept a naturally aspirated 5.5-liter V8, though. A debut for the new model is expected for the upcoming Geneva Motor Show in early March. Related Video:

The BMW M8 leads this month's list of discounts

Back in June of this year, the BMW 8 Series was the most heavily discounted vehicle in America. This month, it's the 617-horsepower M8. Midsummer buyers of the 2020 BMW M8, which is offered in hardtop, convertible and four-door Gran Coupe bodystyles, were seeing an average of $6,150 cut off the sticker; this month that figure has ballooned all the way to $16,864. That's more than 11% off the car's $150,000-plus retail price, and, according to data provided by TrueCar, it's the largest dollar amount sliced off the retail price of any car for the month of September. Next is the Maserati Quattroporte, buyers of which are saving $15,912 for an average transaction price of $99,763. If that's still too expensive, the smaller Ghibli's $70,030 average transaction price represents a huge 14.5% discount, earning the Italian sedan entry into our monthly top 10 best deals list.  The third largest monetary discount in September comes off the $131,066 sticker price of the lovely 2019 Mercedes-AMG GT. Take $15,473 off that sum for an average transaction price of $115,593. For a look at the best new car deals in America based on the percentage discount off their suggested asking prices, check out our monthly recap here. And when you're ready to buy, click here for the Autoblog Smart Buy program, which brings you a hassle-free buying experience with over 9,000 Certified Dealers nationwide. BMW Maserati Mercedes-Benz Car Buying Coupe Luxury Performance Sedan consumer best deals biggest discount