1967 Jaguar E Type Series 1 Roadster on 2040-cars

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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.

Jaguar will sell 10 fully restored Series 1 E-Types

The Jaguar Land Rover "Reborn" program is expanding its offerings yet again. The newest offering is the first from the Jaguar side of the company, and naturally the first car is a Series 1 E-Type. Jaguar Classic will restore 10 of the first-generation E-Types, and the cars will be sold directly to consumers from the company. The very first of the cars is the 1965 model you see above, which will make its public debut next week at the Techno-Classica Essen show in Germany. It's a 4.2-liter model finished in "Opalescent Gunmetal Grey." According to Jaguar, it was originally sent to California where it racked up 78,000 miles, and then was put into storage in 1983. Jaguar then acquired the car, and the Jaguar Classic department proceeded to restore it to factory specifications. Jaguar fixed and retained as many original parts as possible, and used replacement Jaguar Classic parts as needed. The car is fully numbers-matching with the original engine and transmission. If you're interested in purchasing this E-Type, or one of the other nine, you'd better have a hefty pocketbook. A standard restored car done to factory specs will start at about $355,000 at current exchange rates. If you want to spend more, Jaguar offers a few extra cost options such as an upgraded cooling system based on the one found in the Lightweight E-Type, a fully synchromesh transmission for early models without it, and upgraded front brake calipers from the later Series 2 E-Type. Related Video:

2016 Jaguar F-Type R AWD Beauty-Roll

For those of you paying attention, we've really ramped up the old Autoblog video game these days. Our new series Car Club USA joins Translogic and The List, and there are more Daily Drivers and Short Cuts than ever. But sometimes, all you care about is the car. The Autoblog Beauty-Roll video series has one goal: bring you glossy video images of cars, and nothing but. We're collecting moving pictures of all the cars we test, inside and out. Each episode comes with a hit of engine sound – start-up and with a few revs – to round out the package. Set your resolution to max, kick it into full-screen, turn up the sound, and enjoy today's subject, the 2016 Jaguar F-Type R AWD.