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2016 Ford Mustang Shelby GT350 to start at $47,870 [UPDATE]

UPDATE: After reaching out to Ford, we've been told by spokesman Said Deep that while the Blue Oval hasn't formally announced pricing for the GT350/GT350R, the document obtained by Mustang6G is accurate. Look for a second post when Ford makes its formal announcement at a later date. Ladies and gents, the Ford Mustang Shelby GT350 will be something of a bargain. Mustang6G has a leaked pricing sheet that indicates the base model will start at just $47,870, while the track-oriented R adds $13,500 to that price. Neither figure includes an $825 destination charge. That means that the high-performance Mustang will undercut, well, a lot of stuff. The GT350R is nearly $11,000 less than a Chevrolet Camaro Z/28 and is $2,830 less than a base BMW M4. The standard GT350, meanwhile, slots below the base Chevrolet Corvette by $7,130, while the price should even be within the reach of some Camaro SS 1LE consumers. In short, the GT350 and GT350R should appeal to a lot of people based purely on price alone. With the previous leak on options pricing, figuring out the cost of your ideal GT350 requires nothing more than some simple addition. While a leaked document such as this is often met with an initial degree of skepticism, Mustang6G reports that the prices are real and are showing up within the Ford dealer system. Naturally, we've reached out to Ford in an attempt to confirm this report. Should they get back to us, we'll be sure to update this story. See Ford's comment up top. Until then, head into Comments and let us know what you think of the starting prices for the GT350 and GT350R.

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.

Toyota sells six of 10 of hybrids in California

In an apparent shot back at Ford's increasing market share of electrified vehicles and claim that it accepts more Prius trade-ins for its own hybrids than any other car, Toyota has flexed a muscle and played the numbers game to put the Blue Oval in its place.
Leaning on its hybrid market dominance in California, the Japanese automaker stated that six out of 10 hybrids sold in the Golden State are Toyota models. And it keeps coming: Year-to-date through May 2013, Toyota sold five times more hybrids than Ford. One of every two hybrids in California is a Prius model. In addition, Toyota notes that it has sold 1.5 million Prius vehicles in the US, 90-percent of which are still on the road today.
Want more? We'll let Bill Fay, Toyota's group vice president and general manager of sales lay the smack down: