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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.

2014 Jaguar XJR

Jaguar In Its Purest Form
Jaguar has spent a lot of time, money and engineering effort refocusing itself for the modern world. In 2006, the current XK replaced the former XK8 and introduced a new aluminum-intensive chassis architecture to Jaguar's portfolio, and two years later, the XF whipped up a similar overhaul to its classical styling department.
The next major revision came in 2009, with the introduction of the achingly attractive and completely new XJ sedan, and this step struck us as the biggest improvement yet; not only was Jaguar's flagship built atop a cutting-edge platform, it boasted a newfound sense of style that pointed toward the future while still echoing the brand's storied past. This trend has continued most recently with the two-door F-Type that we've already grown quite fond of.

2018 Jaguar E-Pace (almost) revealed in new spy photos

Each time we've seen the Jaguar E-Pace out testing, it has been covered in a variety of fake plastic body parts to obscure the actual body. Finally, Jaguar relaxed its camouflage campaign, giving us the chance to see the car's bodywork almost entirely exposed. The only disguise this car was wearing was a form-fitting vinyl wrap. The test car in question confirms a number of our suspicions. The rear hatch is, indeed, extremely raked, which gives the vehicle a sportier look, though will surely reduce cargo capacity. If this crossover was coming from one of the German automakers, they would probably call this a "coupe." The front and rear fenders are also rather exaggerated, and the rear haunches are accented by a rising window line that ends in a pinched-off quarter window. The nose and tail of the crossover are pretty standard Jaguar. The layout of the lights and grilles are generally what you would find on its big brother, the F-Pace. The headlights appear to have some sort of LED arrangement as there are no clearly defined projector or reflector elements. Of course, there's no guarantee that these lights will be used across the line-up. They may just be a feature on higher trim levels. Now that we've also seen the car with so few covers and with production-ready sheet metal, we now expect to see the E-Pace fully revealed in person very soon, probably by the end of the year. It will likely be a 2018 model, and may share engines and drivetrains with the Land Rover Range Rover Evoque, since the body shape matches that of a vehicle with a transverse mounted engine. Related Video: Featured Gallery Jaguar E-Pace Spy Shots View 30 Photos Image Credit: KGP Photography Spy Photos Jaguar Crossover SUV Luxury jaguar e-pace