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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.

Overnight action from the 24 Hours of Le Mans

We won't go into a recap here, but there are still leading positions being fought for in all classes - it's so close that leads are changing when a car goes into the pits. We'll let the recap wait until the end of the race, so for now enjoy some shots from last night's action at the 24 Hours of Le Mans.

Aston Martin debuts electric, all-wheel-drive DBX concept

This is like no Aston Martin you've seen before. Oh, sure, it's a coupe, and a luxury grand tourer, at that. But what's so unique about this new DBX concept is what's underneath that slick sheetmetal. Not only is this Aston all-wheel drive, it uses an all-electric powertrain. Yep, it's an Aston EV. Aston Martin says the DBX was created to "defy conventional thinking about the luxury GT segment," with CEO Andy Palmer saying, "The DBX Concept is a challenge to the existing status quo in the high luxury GT segment. It envisages a world, perhaps a world not too far away, when luxury GT travel is not only stylish and luxurious but also more practical, more family-friendly and more environmentally responsible." Powertrain wise, this is a huge departure from what we currently associate with Aston Martin. It doesn't have an engine compartment, because it's powered by electric, in-wheel motors. It has drive-by-wire electric steering, carbon ceramic brakes (okay, that sounds like Aston), a KERS energy recovery system, and cameras in place of actual mirrors (because it's a concept, of course). Design-wise, the DBX has a sort of high-riding coupe look to it, which makes its all-wheel-drive setup clearly evident. It's not super swoopy or revolutionary in terms of its design, instead perhaps more evolutionary than anything. It almost looks like it could be headed for production, even though Palmer put the kibosh on that thinking, saying, "This is, clearly, not a production-ready sports GT car, but it is a piece of fresh, bold thinking about what Aston Martin GT customers around the world could request of us in the future." In any case, it's certainly a fascinating and surprising debut from the British automaker. Check it out, above, and read more details in the press blast, below. ASTON MARTIN DBX CONCEPT CHALLENGES CONVENTION - DBX Concept redefines the luxury GT segment for the 21st Century - World debut for idea of first all-electric, all-wheel drive, Aston Martin - Sophisticated design and innovative engineering to broaden appeal 3 March 2015, Gaydon: Aston Martin today challenges the nature of luxury GT travel in the 21st Century with the debut at the 85th Geneva International Motor Show of the innovative DBX Concept. Created to defy conventional thinking about the luxury GT segment, the DBX Concept widens the appeal of the iconic British luxury brand and reaches out to a more diverse global audience than ever before.