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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.

Is Jaguar testing an electrified XE?

Rumors about Jaguar Land Rover moving further into electrification for its models have been circulating for the last several months. Thanks to some new spy shots, there's even more evidence that the company could have a hybrid or electric model on the way. According to our spies, this rather innocuous looking XE was spied with a group of camouflaged XF and F-Pace prototypes in Spain. Everything about the luxury sedan looks fairly stock until you see the rear end. There, just under the taillight, is a circular blue badge with an "E" in it. That emblem and the vehicle being with other test cars hints at the possibility of Jaguar doing something electrified with the vehicle. Unfortunately, there are no other clues here to determine exactly what is happening underneath the skin. Jaguar Land Rover has been insinuating its intention to build greener models for a while. The company even founded an engineering center partially for them in 2013. A fully electric powertrain is reportedly under development to slot into the F-Pace and maybe also for a Land Rover. Meanwhile, Jag has a trademark on the name EV-Type. With these new photos, the signs of JLR's coming electrification continue to mount.

Junkyard Gem: 1995 Jaguar Vanden Plas

Sold in Europe as the Daimler Six, the 1995 Jaguar Vanden Plas had all the luxury bling that mid-1990s high-rollers needed. This one now resides in the imports section of a self-service wrecking yard near Denver, just like any ordinary Jetta or Lanos. The Vanden Plas name started out in Belgium in 1870, eventually ending up as a British Leyland brand via the Austin Motor Company. 2009 was the last year that luxo-Jags were slugged with the Vanden Plas name. Ford owned Jaguar by this time, of course, but the engine in the XJ6 series remained a traditional Jaguar straight-six. This one is a 4.0-liter rated at 245 horsepower. After 1997, the Jaguar sixes were gone from the XJs, replaced by V8s. The MSRP on this car was $62,200, which amounts to about $102,000 in inflation-adjusted 2017 dollars. It costs real money to keep a car like this running correctly, and once maintenance corners start getting cut... well, the end is near. You should feel fear when you see this. This car is battered and many parts have been yanked by junkyard shoppers, but try to imagine it when it had that new Jag smell. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Built in the proud new spirit of Jaguar.