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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.

Ford updates Transit lineup for 2016

We have a strange affection for vans here at Autoblog, perhaps due to all that free candy we ate as kids. So when Ford announces some minor updates to the Transit and Transit Connect, we deliver the news that every plumber, electrician, and airport shuttle driver across the nation (and Canada) needs. The biggest item for 2016 is an optional passenger side sliding door on medium- and high-roof models, improving access to the Transit's cavernous interior. Ford's rollout of the much-improved Sync 3 infotainment system also expands to the to large van. And a reverse backup camera is now standard across the lineup. The little Ford Transit Connect is also tweaked for the next model year, right after we spent some time in the 2015 version. Titanium trim on the long-wheelbase wagon model brings second row bucket seats that fold flat. With XLT trim, you can swap out a bench seat for the buckets at no extra charge. Read on the for the full press release. FORD TRANSIT, TRANSIT CONNECT AND TRANSIT CONNECT WAGON EVEN SMARTER, MORE FLEXIBLE FOR 2016 MODEL YEAR SYNC® 3, Ford's new communications and entertainment system, is available for 2016 Ford Transit – making America's best-selling van even smarter Ford Transit built more than 100,000 vehicles in the 2015 model year Ford Transit Connect compact commercial van equipped with 2.5-liter I-4 engine gains flex-fuel capability for 2016 DEARBORN, Mich., June 4, 2015 – America's best-selling van is even better for the 2016 model year, with the addition of available SYNC 3, rearview camera technology and new customization options. "These and other updates make the 2016 Ford Transit the smartest, most flexible van ever offered by Ford," says Yaro Hetman, Ford brand manager for Transit, Transit Connect and E-Series. "Transit replaces America's best-selling van for 35 years, E-Series, first sold in 1961 as Ford Econoline, and we look forward to continuing our leadership in this important segment." Transit quickly took over the best-selling commercial van title in November 2014, having been available beginning in June at U.S. and Canadian dealerships for the first time. Ford has produced more than 100,000 Transit vans and wagons at Kansas City Assembly Plant during the 2015 model year.

Ford pranks unsuspecting blind dates with Mustang GT and stunt driver

There's 'speed dating,' that ludicrous get-to-know-you ritual devised by The Inquisition of Mating, and then there's 'dating at ludicrous speed,' which is a better description of what Ford has done in this latest video for the 2015 Mustang GT for your Valentine's Day enjoyment. The Blue Oval used a professional stunt driver to hook six guys into going on a little car trip, but the setup is the key – she pretends she's not that good at driving, until she's really good at it. You can check it out above. Kudos to the guy who goes from "You might want to shift again" to "That's what I'm talking about!" without any question. And the ninja.