Economics re trim and engine variants

Sorry if this is a dumb question, but is there any benefit in the final game to reusing car platforms and engines by creating later year variants instead of creating totally new models?

Well, what do you mean by later? Like just 2 years or 20?

Example: I make an engine from scratch in 1950, then I make a variant in 1960 with upgraded carbs. Do I get any discount for having simply ‘modified’ an existing engine, or would the 1960 variant cost exactly the same as if I made an identical engine from scratch in 1960? (‘Cost’ meaning engineering time/money.)

In the campaign mode, you’ll be saving a lot of money from that. Engines can be kept and upgraded for decades if you want. Trims on the other hand can’t be kept for too long as the bodies will age and lose popularity while the trims themselves will lose popularity every year. By refreshing the trim after a few years, you’ll save a lot of money for an almost new car.

Re-doing a previous trim or variant rather than creating a new one will save you a lot of money as it will reduce the engineering time (in the campaign) by quite a bit which will save you a good bit of money.

It was asked before, but there is not really an answer - - > Engine designer is feature locked and so on, HOWEVER

I’ve got one inline six that I ran for 51 years. Periodic updates would keep it competitive. I imagine there would be a reliability bonus as you’re working with a tried and true design.