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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.

Infiniti Q50 Red Sport 400 priced at $48,855, AWD at $50,855

Infiniti's most powerful production model, the new Q50 Red Sport 400, now has a starting price. You'll need at least $48,855 for the rear-drive model or $50,855 for all-wheel drive. (Both figures include the $905 destination charge.) A fully loaded, rear-drive Q50 RS400 with Direct Adaptive Steering, navigation, adaptive cruise control, a heated steering wheel, and Infiniti's entire alphabet soup of safety equipment, tops out at $57,045. (Again, add $2,000 for AWD). When it comes to rear-drive competition, the closest base price to the Q50 is the 320-hp BMW 340i. This German undercuts the Infiniti by two grand, $46,795 to $48,855. But the BMW outprices the Q50 as soon as you start selecting options. A 340i with similar equipment to a loaded Q50 Red Sport 400 costs just under $60,000. All-wheel-drive German competitors also lose out in the price war. Like with the rear-drive models, the BMW 340i xDrive undercuts the Q50 RS400 by around $2,000. Add the options, and the Infiniti becomes a better value. The other two big German rivals, the Audi S4 and Mercedes-Benz C450 AMG start at a higher price and only get more expensive. Technically the S4 starts cheaper than the Q50, but only with the standard manual transmission. Selecting the S-Tronic dual-clutch model kicks the price from $50,125 to $51,125, and going for the top-end Prestige trim will bump potential Audi owners up to $57,025. Throw on must-have S4 options, including adaptive cruise control, adaptive dampers, and a sport differential and you'll be shell out $64,425 for the Audi. The Mercedes-Benz C450 AMG is the priciest choice in this group, starting at $51,725, or roughly $900 more than a base Q50 RS400 with AWD. Options, again, are the downfall here. Building a C450 to match a loaded Infiniti will drive the Mercedes' price up to $64,315. While it occupies something of a weird space relative to these vehicles, it's also worth mentioning the Cadillac CTS VSport. It's the only car in this impromptu pricing comparo that can outgun the Q50, with its 3.6-liter, twin-turbo V6 good for 420 hp and 430 lb-ft of torque. It also starts at $60,950, although that includes plenty of standard equipment. All this means that the Q50 Red Sport 400 represents a relative value. It packs more power than the Germans – 80 more than the 340i, 67 more than the S4, and 38 more than the C450 – and a more comprehensive list of options, too.

Performance cars old and new are headed to auction at Las Vegas Grand Prix

Auction house RM Sotheby's is hosting a sale ahead of the 2023 Las Vegas Formula One Grand Prix, and most of the lots that will cross the block were designed with performance in mind. Whether you want a supercar or a Formula One car, there's a chance you'll find it in Sin City. One of the highlights from the sale in terms of rarity and price is the Mercedes-AMG Petronas W04 that Lewis Hamilton drove in the 2013 F1 season. Assigned chassis number F1W04-04, it's the team's last car powered by a naturally-aspirated V8 engine, and you're on the wrong track if you're thinking of the 4.0-liter unit that powers AMG's road cars. The engine in question is a 2.4-liter unit that develops 750 horsepower and is capable of revving to a screaming 18,000 rpm. The KERS system injects 80 additional horses into the driveline. Hamilton drove F1W04-04 in 14 of the 2013 season's 19 races, and he won that year's Hungarian Grand Prix in the car. RM Sotheby's notes that F1W04-04 is "the sole example to be sold outside of the Mercedes-Benz organization," which explains why it expects the car will sell for anywhere between $10 million and $15 million excluding the buyer's fee and a 2.5% import duty that applies to American residents. That's a lot of money, but modern Formula One cars rarely come up for sale. Several other cars are expected to sell above the $1 million mark, including a 1999 Mercedes-Benz CLK GTR ($8 million to $9 million), a 1988 Porsche 959 Komfort ($1,650,000 to $1,850,000), and a 1996 Bugatti EB110 Super Sport ($2,500,000 to $3,250,000). The 1990 Ferrari F40 GT (one of 21 units built) could bring up to $4 million. You can take home a rare, high-end classic even if you cap your budget at $1 million. How about a 1984 Lamborghini Countach 5000 S that was delivered new to Ralph Lauren and that has been in the hands of its second owner since 1986? RM expects the coupe will sell for up to $900,000. The auction house is also giving enthusiasts two distinctly different ways to spend a six-digit sum on a 30-something-year-old Mercedes-Benz. There's a 1990 190E 2.5-16 Evolution with about 3,400 original miles that could fetch up to $700,000. That's a lot to pay for a W201, but this isn't a run-of-the-mill Baby Benz: It's one of 502 examples built for homologation purposes. Alternatively, the 1989 560SEC AMG 6.0 Wide-Body could sell for up to $900,000. It's one of the most emblematic cars designed by AMG before it joined Mercedes-Benz.