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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.

Junkyard Gem: 1993 Mercury Topaz GS Sedan

As long as the Mercury brand existed — a period spanning the 1939 through 2011 model years — nearly every Mercury sold in the United States was more or less a redecorated Ford model. The Torino had its Montego sibling, the Crown Victoria had the Grand Marquis, the Cougar was based on everything from the Mustang to the Mondeo, and so on. Naturally, when the folks in Dearborn developed the Ford Tempo compact, a Mercury version had to be created. This was the Topaz, with the official launch of both cars taking place on the deck of the aircraft carrier often referred to as the USS Decrepit. You can't make this stuff up! The Tempo/Topaz, also known as the Tempaz, has largely faded from our collective automotive memory by now, since it broke no significant new engineering or styling ground (this story would be much different if Ford had only put the amazing straight-eight "T-Drive" Tempaz powertrain into production) and didn't have any endearing features other than being a cheap domestic competitor to the Toyota Corolla and Nissan Sentra. Still, close to 3 million Tempazes left North American Ford and Lincoln-Mercury showrooms during the 1984-1994 period. As you'd expect, most of these disposable cars disappeared from both the street and the car graveyard long ago. It takes a very special Tempaz for me to break out my camera while I'm patrolling my local wrecking yards; generally, this means an ultra-rare all-wheel-drive version or at least a very early model in super-clean condition. Today's Junkyard Gem is neither, but I took one look at this spectacular Bordello Red crypto-velour-and-slippery-plastic interior and recognized that this was no ordinary junkyard Mercury. It appears that Mercury had dropped the idea of clever names for base-grade seat fabrics by the time of the Topaz, referring to this stuff as just "cloth" in all the brochures I could find. That's too bad, because Mercurys had cool names for upholstery (e.g., Chromatex) in the old days. The interior is in very good condition but the steering wheel shows substantial wear, so I think this is a high-mile Topaz that got meticulous care from its owner or owners. Ford used five-digit odometers on these cars until the end of production, however, so we'll never know if this reading indicates 65,404 miles or 365,404 miles. The body is very straight, but there's some nasty corrosion behind the right front wheelwell.

2014 Ford Fiesta ST priced from $21,400* [w/poll]

The 2014 model year brings a whole host of changes to Ford's Fiesta B-Segment fighter, the most important of which (to our enthusiast eyes, anyway) is the addition of a potent new ST model. The US-spec hot hatch was first shown at the 2012 Los Angeles Auto Show last November, and thanks to Ford's build-and-price site, we've now learned that the Fiesta ST will slide in at $21,400 when it goes on sale later this year (*not including $795 for destination).
Under the hood of the ST is a turbocharged 1.6-liter EcoBoost inline-four good for 197 horsepower and 214 pound-feet of torque, mated solely to a six-speed manual transmission. Ford hasn't released performance data on its pint-sized puncher just yet, but know that these numbers make the Fiesta ST ever-so-slightly more powerful than the larger Volkswagen GTI while returning an estimated 34 miles per gallon on the highway.
Elsewhere in the lineup, the standard Fiesta also gets a smattering of improvements for the 2014 model year, including a new 1.0-liter three-cylinder turbocharged engine and revised exterior styling. Pricing for the 2014 Fiesta sedan starts at $14,000, with the five-door model adding $600 to that number (again excluding the $795 destination fee).