Afs Cruise Electric Ipod Shields Piping Magneride on 2040-cars

Auto blog

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.

Ferrari 250 GTO heading to The Quail with no reserve

It's not every day that a Ferrari 250 GTO changes hands. It is, after all, one of the most highly coveted cars ever made, and there were only 39 of them built in the first place. So when one goes up for sale, it tends to fetch millions. Tens of millions, actually, and the prices keep escalating.
Throughout most of the 1980s they were trading hands for six figures. In 1989 one sold for $10 million. A few months later, $13 million. Prices fluctuated in the 90s, but by 2012, one sold for a whopping $35 million, eclipsed the following year at $52 million. Nobody knows what the next one will sell for, but we're about to find out.
That's because Bonhams has got one consigned for its upcoming auction at the Quail Lodge during Monterey weekend next month. And it's offering it without reserve, meaning that it could sell for the opening bid (however unlikely), it could break the previous record or it could land anywhere in between or beyond.

2015 Ferrari LaFerrari [w/video]

What a year it's been for enthusiasts who love high-performance, higher-dollar automobiles. The past twelve months or so have been consumed with the three horsemonsters of today's hybrid hypercar enlightenment: the Porsche 918 Spyder, the McLaren P1 and the Ferrari LaFerrari. Getting into just two of the three would be better than a lump of coal in one's stocking come holiday time, but for me, it'd still leave things feeling sadly incomplete, gnawing from within 'til the end of days.
Getting the call from Maranello, therefore, was even more fortunate and satisfying. The 918 Spyder - the only seriously green hybrid of the trio - shook me up with its sophisticated menu of technologies. The McLaren P1 remains more of a true hypercar than the Porsche, what with its e-motor designed to boost the lightweight beast to supernatural speeds above any terrestrial concerns like fuel efficiency. And now it's time for the Italian with the funny name, LaFerrari. No mistake about it: I've been waiting all year for this car a little more than I've been waiting for the other two.
This run of hypercars built up over the year like a famous three-part opera: The enthralling start of the drama sitting in the Porsche 918, tear-assing the heavier green dart around a track in Spain; then on to the UK with the lightness and quick heart of the biturbo V8 in McLaren's track-inspired P1, and it was all to be topped-off at Fiorano with the LaFerrari, fit for a Wagnerian finish.