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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 barn finds highlight $16M Bonhams sale

Every year, Bonhams holds an auction of classic Aston Martins at the automaker's historic home in Newport Pagnell. But never has it brought in as much as it did this year. The 16th annual Aston Martin Sale, held this past weekend, raked in an impressive GBP10,280,275 in sales – equivalent to nearly $16 million at current exchange rates. Among the highlights of the 50 classic Astons sold were a number of barn finds, including a pair of DB Mark II sports saloons from 1958 that doubled the pre-sale estimates to sell for GBP104,540 and GBP115,740, respectively. Those weren't even the top lots of the day, though. A 1962 DB4 Series IV Vantage Convertible that was once owned by legendary thespian Sir Peter Ustinov sold for GBP1,513,500, while a 1966 DB5 Vantage Convertible went for GBP1,524,700 to claim the top spot. "The quintessentially British marque of Aston Martin attracts interest from enthusiasts across the world, a fact demonstrated here again this year as we took bids from all corners of the globe," said Bonhams' Tim Schofield. "The sale attracted a larger and more cosmopolitan attendance than ever before, achieving an excellent result." The auction was complemented by the Spring Concours held by the Aston Martin Owners Club down the road at Woburn Abbey in nearby Bedfordshire, bringing out a record assembly of 350 Astons old and new. The company used the occasion to mark the UK debut of the new Lagonda Taraf as well. BIGGEST BONHAMS SALE TO DATE AT ASTON MARTIN WORKS - 16th annual Aston Martin Sale sees total transactions top GBP10m - Sir Peter Ustinov-owned DB4 Series IV Vantage Convertible nets GBP1.5m - More than 50 sports cars and 170 items of automobilia change hands 11 May 2015, Newport Pagnell, Buckinghamshire: In its 60th anniversary year Aston Martin Works played host to another hugely busy Bonhams Aston Martin Sale on Saturday – with GBP10.3m worth of rare and prized sports cars changing hands. The historic home of the great British luxury brand was the venue for the 16th annual Bonhams Aston Martin Sale, which saw around 50 classic Aston Martins sold. The annual sale is recognised as a globally-significant occasion for Aston Martin collectors and enthusiasts around the world. The 2015 event was the biggest to date, setting a sales total of GBP10,280,275 and witnessing a fascinating and diverse collection of Aston Martin-related automobilia go under the hammer in several hours of exciting and highly-charged bidding.

Aston Martin DB11: Everything we know right now

With six and a half decades of heritage, the Aston Martin DB is one of the most storied nameplates in the savory sports car stratosphere. And we're (probably) just weeks away from seeing the next major chapter: the DB11. A few exclusive spy shots reveal new details, and we've gathered some crucial intelligence to help us get a better idea of what we can expect from the new DB11 when it launches later this year. Much like how the previous DB9 ushered in a new generation of cars from Aston's Gaydon, UK, headquarters, the British carmaker says the DB11 will kick off its "Second Century Plan." An insider told us that Aston is in the final tuning stages, and as such, the engineering prototype pictured here is likely the closest thing we've seen to a final production-spec car. While early mules had moldings and panels, we now have a good sense of the DB11's proportions, and can clearly see the rear-wheel-drive coupe's character lines. We can also see an aero-lip intake under the grille that appears to be significantly wider than on the DB9. Beyond being aesthetically pleasing, this is a necessary addition for better cooling. Our sources tell us power is expected to be above that of the naturally aspirated V12 Vantage's 565 hp and 458 lb-ft of torque. Gaydon's partnership with Daimler will soon yield the new Mercedes-AMG 4.0-liter twin-turbo V8 engine for use in Aston Martin cars, but the Brits surprised us recently by showing a teaser of a 5.2-liter twin-turbo V12. The timing is curious, and makes us suspect that the DB11 will continue the 12-cylinder tradition, despite the pressure to be increasingly fuel efficient. Our sources tell us power is expected to be above that of the naturally aspirated V12 Vantage's 565 horsepower and 458 pound-feet of torque. While the current DB9 boasts a six-speed automatic gearbox, we understand the V12 will be mated to a new transmission with more speeds. It's possible the DB11 could get the ZF-sourced eight-speed automatic that Aston recently added to the Vantage and Rapide range. The DB11 will ride on an all-new chassis, and in continuing the industry trend, the new car should be lighter, tipping the scales below the current DB9's 4,000-pound mark, despite some new equipment. The Daimler partnership should improve a major area where Aston has historically lacked: in-car technology and infotainment.