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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.

2019 Jaguar XJ50 is a supercharged birthday present

Jaguar is celebrating the 50th anniversary of its elegant luxury sedan, the XJ, with a stylish and supercharged new model called the XJ50. This nod to eight generations of XJ comes in long-wheelbase format and is powered by either a 340-horsepower supercharged V6, or snarling 470-hp supercharged V8. While the V6 model is available with a choice of rear- or all-wheel drive, the more powerful V8 is offered only in rear-wheel drive form. Revealed for the first time at the 2018 Beijing Motor Show, the XJ50 is visually separated by the standard XJ sedan by having unique front and rear bumpers, a gloss black grille, special badges on the side vents, along with 20-inch alloy wheels with a gloss black diamond turned finish. Four colors will be available: Rosello Red, Santorini Black, Fuji White, and Loire Blue. How something along the lines of British Racing Green didn't make the cut remains a marketing mystery, however. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The XJ50 cabin is fitted with unique touches like an XJ50 logo on the front center armrest, illuminated XJ50-branded treadplates, diamond-quilted seats with the Jaguar leaper logo on the headrests, along with metal pedals and aluminum shift paddles mounted on the steering wheel. "This is a car worth celebrating and the XJ50 pays homage to a giant within the Jaguar brand that we believe is one of the world's most stylish sporting saloons," said Ian Callum, Jaguar Director of Design. While only the most jaded automotive Grinch wouldn't enjoy a birthday celebration -- really, who doesn't like cake with their illuminated treadplates(?) -- there's a sense the XJ50 marks the end of the road for the brand's long-serving luxury sedan. Rumors persist that the XJ will soon migrate to an all-electric platform, to compete directly against cars like the Tesla Model S and upcoming Porsche Mission E. Jaguar did not release an exact price of the 2019 XJ50, though a long-wheelbase XJ with the 340-hp V6 and rear-wheel drive carries a starting price of approximately $84,500.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Beijing Motor Show Jaguar Luxury Sedan jaguar xj

Autoblog Minute: Frankfurt Motor Show recap

We check in with Autoblog staffers in Germany for a recap of the biggest reveals from the 2015 Frankfurt Motor Show. Autoblog's Adam Morath reports on this edition of Autoblog Minute with commentary from senior editor, Greg Migliore. Show full video transcript text [00:00:00] As the doors of the Frankfurt Motor Show open to the world's press we venture across the Atlantic for a front row seat to all the action. I'm Adam Morath and this is your Autoblog Minute. The fall auto show season kicks off this week and Germany is set to play host. We're expecting plenty of big vehicle reveals and industry news to come out of Frankfurt. [00:00:30] [Greg Migliore Interview] [00:01:00] Be sure to check in with Autoblog for tons of great photos, video and editorial coverage on all things Frankfurt. For Autoblog, I'm Adam Morath. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals. Frankfurt Motor Show Bentley Jaguar Mercedes-Benz SUV Concept Cars Electric Autoblog Minute Videos Original Video