2006 Ferrari 430 Spider 2dr Convertible on 2040-cars

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EV cost burden pushing automakers to their limits, says Stellantis' CEO Tavares

DETROIT — Stellantis CEO Carlos Tavares said external pressure on automakers to quickly shift to electric vehicles potentially threatens jobs and vehicle quality as producers struggle with EVs' higher costs. Governments and investors want car manufacturers to speed up the transition to electric vehicles, but the costs are "beyond the limits" of what the auto industry can sustain, Tavares said in an interview at the Reuters Next conference released Wednesday. "What has been decided is to impose on the automotive industry electrification that brings 50% additional costs against a conventional vehicle," he said. "There is no way we can transfer 50% of additional costs to the final consumer because most parts of the middle class will not be able to pay." Automakers could charge higher prices and sell fewer cars, or accept lower profit margins, Tavares said. Those paths both lead to cutbacks. Union leaders in Europe and North America have warned tens of thousands of jobs could be lost. Automakers need time for testing and ensuring that new technology will work, Tavares said. Pushing to speed that process up "is just going to be counter productive. It will lead to quality problems. It will lead to all sorts of problems," he said. Tavares said Stellantis is aiming to avoid cuts by boosting productivity at a pace far faster than industry norm. "Over the next five years we have to digest 10% productivity a year ... in an industry which is used to delivering 2 to 3% productivity" improvement, he said. "The future will tell us who is going to be able to digest this, and who will fail," Tavares said. "We are putting the industry on the limits." Electric vehicle costs are expected to fall, and analysts project that battery electric vehicles and combustion vehicles could reach cost parity during the second half of this decade. Like other automakers that earn profits from combustion vehicles, Stellantis is under pressure from both establishment automakers such as GM, Ford, VW and Hyundai, as well as start-ups such as Tesla and Rivian. The latter electric vehicle companies are far smaller in terms of vehicle sales and employment. But investors have given Tesla and Rivian higher market valuations than the owner of the highly profitable Jeep and Ram brands. That investor pressure is compounded by government policies aimed at cutting greenhouse gas emissions. The European Union, California and other jurisdictions have set goals to end sales of combustion vehicles by 2035.

1967 Ferrari 275 GTB/4 is a love letter to Steve McQueen

There have been plenty of movie stars who've been into cars, but few genuine aficionados like Steve McQueen. The legendary King of Cool was known for driving his green Mustang and Porsche prototypes on the big screen, but in his private life, he loved his Ferrari.
There was, of course, his iconic 250 GT Lusso, but back in 1967, the actor and sometimes racer also bought a rare 275 NART Spyder. Sadly, that car was totaled a mere two days after he took possession, and there were no replacements available. So he bought this hardtop 275 GTB/4 instead.
Ferrari's Classiche department recently restored the car to pristine condition and RM Auctions sold it for over $10 million, but there's more to its story than its celebrity provenance and high hammer price. Listen to the guys who worked on it for McQueen tell the car's story in this latest video from the Aficionauto.

2014 Ferrari FF

Ferrari announced a panoramic roof option for its all-wheel drive FF at the 2012 Paris Motor Show, promising the new full-length glass panel would offer its well-heeled clientele "a genuine open-air driving feeling, while providing thermal and acoustic insulation." That statement was intriguing, as my experience with glass roofs usually ends abruptly after I close the opaque shade - as a Southern Californian, I always find tinted glass panels too hot during the day and too cold at night.
While the FF I reviewed in August was fitted with a solid aluminum roof, I was fortunate to catch up with a brand-new silver Ferrari FF (it only had about 160 miles on the odometer) with the optional panoramic roof at the Formula One race at Circuit of the Americas just last month. It was my lucky day, as I was about to spend about six hours with the four-place Italian, blissfully enjoying it during the warm day until long after the sun had set on the Texas horizon.
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