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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.

Aston Martin to turn an air force base into a factory to build DBX crossover

To build its upcoming DBX luxury SUV, Aston Martin needs a new factory. A year ago, the British manufacturer announced having chosen the site of St. Athan in South Wales, and the former Royal Air Force base has now been officially handed over to Aston Martin. It's a part of a growth plan outlined by the carmaker, and the site was chosen from 20 potential ones all over the world, to accompany the existing manufacturing facility in Gaydon, Warwickshire. The two factories will create 1,000 new jobs by 2020, and Aston Martin will boost employment in Wales with a further 3,000 jobs across its supply chain and local businesses related to car manufacturing. The three hangars of the location will be converted into a car factory by 2019. The former military site was formally handed over from the British Ministry of Defence to Aston Martin by Secretary of State Sir Michael Fallon at a ceremony today, including Aston Martin President and CEO Dr. Andy Palmer, and Secretary of State for Wales, Alun Cairns and Welsh First Minister, Carwyn Jones. It's been a special day in Wales as conversion of #AstonMartinStAthan starts ahead of DBX production in 2019: https://t.co/9e6nqQiob4 pic.twitter.com/K6v3D3TPJd — Aston Martin (@astonmartin) April 6, 2017 "Due to its sheer size and scale, the St Athan Super Hangars represented an excellent opportunity for us to build our second manufacturing facility, within the envelope of an existing structure. It is perhaps fitting that St Athan is, like our headquarters and sports car factory at Gaydon, a former Royal Air Force base", says Andy Palmer. Related Video:

Aston Martin Rapide puts the future on display at CES

Aston Martin looks to be on the verge of a technological revolution. That includes a new platform, powertrain, design language... the works. And at CES, it's showing how its next generation of vehicles will incorporate new infotainment technologies, as well. Stemming from a partnership recently signed with Chinese company Letv (which we're not sure how to pronounce either), this Aston Martin Rapide S is decked out with bright tech. It has a 13.3-inch high-def touchscreen display in the center console, a 12.2-inch display in the instrument cluster, new speed-recognition technology, and remote services. All the features come from Letv's Internet of the Vehicle program. Few of these features are ground-breaking, but everything being relative, it's a big step for Aston Martin. After all, the British automaker makes almost all of its models based on a platform that dates back fifteen years, a V12 engine that's even older, and no transmission with more than a single clutch. But that's all about to change with a new generation on the horizon, and this demonstrator hints at just one way in which we'll soon see that transformation take shape. Related Video: LETV AND ASTON MARTIN REVEAL THE AUTOLINK RAPIDE S AT CES 6 January 2016, Las Vegas USA: Leading global technology company Letv and luxury sports car brand Aston Martin today revealed at the Consumer Electronics Show the first results of their collaboration – an Aston Martin Rapide S incorporating the latest Letv Internet of the Vehicle (IOV) system. Aston Martin and Letv signed a memorandum of understanding (MOU) on December 3rd 2015 to confirm research projects that include the development of connected electric vehicles through to manufacturing consultation on future electric vehicles. The ideation and engineering of the Aston Martin Rapide S project has been led by the Letv IOV team and has focused on a new concept for the centre console and instrument panel. The center console is now a 13.3 inch HD touch screen and the instrument panel is now a 12.2 inch screen incorporating electronic instrumentation and gauges. The original human-machine interaction (HMI) has also been updated by integrating Letvs latest speech recognition technology. Letv first showed its Autolink system in November 2015, the first time the technology company had released a product specifically developed for automotive applications.