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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.

2018 Jaguar F-Type gets four-cylinder turbo engine option

At the 2017 New York Auto Show, Jaguar has revealed the final piece of the 2018 F-Type puzzle: a four-cylinder entry-level model. It rounds out an expanded lineup of F-Type variants that have all gotten a bit of a facelift and some additional content for 2018, which we told you about back in January. But the little four-cylinder is definitely the biggest surprise. Underhood is the state-of-the-art 2.0-liter, turbocharged, gasoline-fueled Ingenium engine, which is making its way into several Jaguar-Land Rover products for the first time in the 2018 model year. It has a full suite of contemporary technologies, like a variable-lift electrohydraulic valvetrain that eliminates the need for a traditional throttle, an integrated exhaust manifold, and a dual-scroll turbocharger. You might recall that the Ingenium gas engine is replacing an older 2.0-liter turbo four in the XE, and also will show up in the F-Pace and XF. Add the F-Type to this burgeoning list, and don't expect it to stop there. The Range Rover Velar has also been announced for the US with this engine. In the F-Type, the 2.0T makes 296 horsepower and 295 pound-feet of torque, which is higher than some of the other applications for this engine in the US. There's only one powertrain arrangement for the 2.0T in the US – rear-wheel drive and backed up by an eight-speed automatic – but buyers will be able to choose from a coupe or convertible body style. Jaguar claims the 2018 F-Type will scoot to 60 mph in as little as 5.4 seconds. It's also the lightest F-Type, by a smidgen. The 2.0T coupe weighs 3,360 pounds, which is 95 pounds lighter than the next-lightest coupe, the 3,455-pound, 340-horsepower supercharged V6 coupe equipped with a manual (and 117 pounds lighter than that car with an automatic). There's probably a fuel-economy benefit in EPA testing as well, but Jaguar doesn't have EPA numbers yet, so stay tuned on that. Don't forget that the 400 Sport variant will join the 2.0T on the stand. It's a one-year-only special edition model with a supercharged V6 uprated to 400 hp, but sadly there's no manual version on offer. Related Video: Featured Gallery New York Auto Show Jaguar Convertible Coupe Luxury Performance 2017 new york auto show ingenium

Watch Jaguar reveal the C-X17 Concept live, right now!

Jaguar is set to reveal the C-X17 concept crossover in just a few short moments. The show starts at 11:00 AM EST, which is supper time in Frankfurt where the reveal is taking place. It's almost lunch time here on the East Coast of the US, so enjoy your sammy and a bag of chips while you sit back and watch Jaguar show us all some new technology and possibly an entirely new direction for the brand. Our own article on the Jaguar C-X17 concept will go live on Autoblog at 11:30 AM EST, and stay tuned for own live images of the crossover concept tomorrow from the show floor.