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Rising aluminum costs cut into Ford's profit

When Ford reports fourth-quarter results on Wednesday afternoon, it is expected to fret that rising metals costs have cut into profits, even as rivals say they have the problem under control. Aluminum prices have risen 20 percent in the last year and nearly 11 percent since Dec. 11. Steel prices have risen just over 9 percent in the last year. Ford uses more aluminum in its vehicles than its rivals. Aluminum is lighter but far more expensive than steel, closing at $2,229 per tonne on Tuesday. U.S. steel futures closed at $677 per ton (0.91 metric tonnes). Republican U.S. President Donald Trump's administration is weighing whether to impose tariffs on imported steel and aluminum, which could push prices even higher. Ford gave a disappointing earnings estimate for 2017 and 2018 last week, saying the higher costs for steel, aluminum and other metals, as well as currency volatility, could cost the company $1.6 billion in 2018. Ford shares took a dive after the announcement. Ford Chief Financial Officer Bob Shanks told analysts at a conference in Detroit last week that while the company benefited from low commodity prices in 2016, rising steel prices were now the main cause of higher costs, followed by aluminum. Shanks said the automaker at times relies on foreign currencies as a "natural hedge" for some commodities but those are now going in the opposite direction, so they are not working. A Ford spokesman added that the automaker also uses a mix of contracts, hedges and indexed buying. Industry analysts point to the spike in aluminum versus steel prices as a plausible reason for Ford's problems, especially since it uses far more of the expensive metal than other major automakers. "When you look at Ford in the context of the other automakers, aluminum drives a lot of their volume and I think that is the cause" of their rising costs, said Jeff Schuster, senior vice president of forecasting at auto consultancy LMC Automotive. Other major automakers say rising commodity costs are not much of a problem. At last week's Detroit auto show, Fiat Chrysler Automobiles NV's Chief Executive Officer Sergio Marchionne reiterated its earnings guidance for 2018 and held forth on a number of topics, but did not mention metals prices. General Motors Co gave a well-received profit outlook last week and did not mention the subject. "We view changes in raw material costs as something that is manageable," a GM spokesman said in an email.

The 2021 Jaguar F-Type Heritage 60 Edition is fast, exclusive and classically green

The original Jaguar E-Type turns 60 years old next March, and to celebrate, Jaguar is building a limited run of a special F-Type. It's awkwardly called the 2021 Jaguar F-Type Heritage 60 Edition, but it's otherwise a subtle, classy example of the sports car. One of the most noteworthy aspects is that soft green hue. It's Sherwood Green, which was a color offered on the original E-Type, but hasn't been available since the 1960s. It's the only color offered here, and won't be available on other F-Types. Black and aluminum trim accents dot the outside, and they're paired with machine-finish forged wheels. The interior features a light brown and black leather interior, and there are special logos placed throughout. That logo also happens to be shared with the restored Jaguar E-Type Heritage 60 Collection cars. The center stack gets a unique aluminum trim that's patterned to match the back of an E-Type's rearview mirror. The F-Type Heritage 60 Edition is only available in F-Type R specification. That means it gets a supercharged 5.0-liter V8 making 575 horsepower and 516 pound-feet of torque. Power goes through an eight-speed automatic transmission to all four wheels. Buyers do get the choice of either coupe or convertible, though. Only 60 examples of the mean green cat will be built worldwide. Pricing hasn't been announced, but it should be a good bit more than the roughly $104,000 of a base F-Type R. Related Video:

Hot Rod Garage series premieres with 700-hp big-block Jaguar XJ

Roadkill hosts Mike Finnegan and David Freiburger have broken up - kinda - to spin off a new show, Hot Rod Garage, that mostly gives up the driveway and parking lot wrench work for the confines of a garage. We say kinda because while Finnegan is the primary host for Hot Rod Garage, Freiburger plays guest host and the new show starts off by wrenching on the Roadkill Draguar project car.
What's the Draguar? It's a 1974 Jaguar XJ12 that's about to be force-fed a 383-cubic-inch Chevrolet long-block engine with tidbits like Holley carbs, a Weiand 6-71 roots blower and a "custom WillBlow transmission," all good for about 700 horsepower. After that Finnegan gets into swapping parts on his wife's El Camino and some TIG welding lessons.
You can check out the first episode below. And in case you're worried, no, Roadkill isn't going away.