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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.

Electric Jaguar I-Pace wins Car of the Year in Europe

GENEVA — The electric Jaguar I-Pace has won the Car of the Year award in Europe, the first time the storied brand has been bestowed the prize. The four-wheel drive vehicle edged out the Alpine A110, which is not a mass production car, after they tied for top honors in the first round of voting by dozens of automotive journalists. It is the first such award for Jaguar, a British brand now owned by India's Tata Motors, which touted the new platform used for the I-Pace. Monday's presentation of the award, which was established in 1964, marks the unofficial start of the 89th edition of the Geneva auto show. The five other finalists were the Citroen C5 Aircross, Ford Focus, Kia Ceed, Mercedes-Benz A-class and Peugeot 508 . The finalists were winnowed down from an initial list of 60 models, and road tests began in October. Final tests were two weeks ago at a test center outside Paris. A potential sales generator, the award is organized by seven European magazines and awarded by 60 journalists from nearly two dozen countries. Last year's winner was the Volvo XC40 compact SUV.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Jaguar prices 2020 F-Pace range, starting at $46,225

The 2020 Jaguar F-Pace lineup includes two new limited-edition models, and every model comes with Android Auto and Apple CarPlay standard. The crossover has finally acquired its most crucial numbers, the MSRPs. Starting price for the entry-level F-Pace 25T, powered by the lesser 2.0-liter turbocharged four-cylinder Ingenium engine begins at $45,200. Add the unchanged $1,025 destination charge and the total comes to $46,225, which is $400 more than the 2019 model. The Premium, Prestige, and R-Sport trims go up by the same amount for both the 25T and the 30T models — the 30T powered by the 296-hp version of the 2.0-liter Ingenium turbo four. Premium increases by $550, Prestige by $350, and R-Sport by $300. That makes the least-dear 25T Premium a $48,825 affair. The 30T Portfolio model costs $64,625 for 2020, a $300 bump over 2019. The S raises the stakes by the same amount, to $63,125. The flagship F-Pace SVR with its 5.0-liter supercharged V8 and 550 hp tacks on the largest price jump of $620, for a total of $81,625. The limited edition trims are the previously announced 300 Sport and Checkered Flag. In the U.S., the 300 Sport comes exclusively with the 296-hp 2.0-liter Ingenium four-cylinder, and exterior revisions like dark satin gray trim on the grille and window surrounds, side vents, mirror caps, rear fascia and door finishers. Inside, yellow contrast stitching on the instrument panel and seats marks the beast, plus embossed logos on the front headrests. The full-fat Touch Pro navigation with Connect Pro comes standard. The crossover sits on 22-inch gray wheels and wears plenty of 300 Sport badges throughout. Three colors are available: Yulong White, Indus Silver and Santorini Black. It takes $63,025 to start the bidding. The Checkered Flag Special Edition is based on the R-Sport and adds plenty of gloss black, including 20-inch gloss black wheels. Color choices here are Yulong White, Eiger Grey and Santorini Black. The 247-hp four-cylinder get the nod, along with 18-way adjustable front seats, the Touch Pro navigation without Connect Pro but with the Meridian audio. It costs $59,4258