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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.

2015 Ford Mustang to make world debut on Dec. 5 [w/video]

Between a bevvy of spy shots, speculative renders and insidery images from the halls of Car and Driver, we've got a pretty decent idea of what the 2015 Ford Mustang might look like. Still, we're excited to see the real deal as soon as possible.
Turns out that Ford has told us just when that first official look might come, too, although it has chosen somewhat of a backdoor fashion for dropping the news.
The video below popped up on the Ford Mustang YouTube channel this morning, promoting a social media effort called #MustangInspires on. The video and hashtag ask fans of the pony car to share pictures of the car - or "photographic stories of inspiration" - on Instagram, Facebook, Twitter, etc. But the truly interesting part of the video description is that which mentions taking "the cover off the all-new Mustang" on December 5. Consider our calendars marked.

Evo grabs Ford's Fiesta R5 rally car by the scruff

Evo and host Henry Catchpole were thinking of excuses reasons to borrow the bonkers Ford Fiesta R5 rally car for a day or two, when it struck them: the car is street legal. With access to the R5, some of the world's most beautiful driving roads in the English Lake Country nearby, and a handy video crewing hanging around, the plan seemed to write itself.
Based on the resulting video, it was a good plan. Without spoiling the video for you - something we can't really do in text as the best part is listening to the rally car run - Catchpole finds the Fiesta to be sublimely quick and massively satisfying. Even taking the car for a spin on a pseudo rally stage, after leaving the English countryside, does nothing but add to his assessment of the beastly little Ford. Scroll on below to see for yourself, and enjoy the ride.