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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.

Jaguar sends off the F-Type with commemorative 75 model

Jaguar is preparing to send the F-Type to the pantheon of automotive history. It unveiled a commemorative model named F-Type 75 that announces the end of a roughly decade-long production run with a small handful of specific design accents inside and out. Offered as a coupe and as a convertible, the 75 stands out from other members of the range with subtle emblems depicting the F-Type's silhouette positioned behind the front wheel arches. The F-Type 75 ships with 20-inch five-spoke wheels finished in gloss black, while the more powerful F-Type R 75 wears 20-inch, 10-spoke wheels with a gloss black and diamond-turned finish.  Inside, the F-Type's silhouette appears on the piece of trim positioned above the infotainment system's display and on the door sills. Every 75 regardless of body style or output comes with the Interior Black Pack and what Jaguar calls "Performance-design" front seats. While a 75-horsepower bump would have been fitting, Jaguar made no mention of mechanical changes. The four- and six-cylinder engines were dropped for the 2022 model year, so the F-Type will end its career with a V8-only range. Power for the base model comes from a 5.0-liter V8 that's supercharged to 444 horsepower and 429 pound-feet of torque, while the R benefits from an evolution of this engine rated at 575 horsepower and 516 pound-feet of torque. The base F-Type is rear- or all-wheel-drive, while the R is rear-wheel-drive-only. Jaguar will begin delivering the F-Type 75 to customers in England in early 2023 — about 75 years after the XK120 made its debut, hence the name. Pricing and availability haven't been announced yet, and Jaguar confirmed to Autoblog that details about the F-Type 75 that will be sold in the United States will be published in December 2022. The company added that 2024 will be the F-Type's last model year. As for what's next, your guess is as good as ours, but it doesn't sound like a direct successor to the F-Type is around the corner. Featured Gallery Jaguar F-Type 75, official images View 12 Photos Jaguar Convertible Coupe Luxury Performance

2018 Jaguar XJ stars in 'Game of Drones'

Looking for a fun way to put the its 2018 XJ in the spotlight, Jaguar turned to a fresh form of racing. The automaker placed three of the long-wheelbase XJL models in a studio, and surrounded them with illuminated, door-shaped gates. Then Jaguar brought in a pair of professional drone racers to compete in the glowing circuit, which includes pass-through of the rear of the XJL cabins. The drone pilots, donning VR headsets, sat in the rear of the 575-horsepower version of the XJL, the Jaguar XJR575, and launched the drones from the trunk of the car. They raced the drones through the gates and through the cars at speeds of up to 60 miles per hour. "The course was a great test, but the fact we were able to go at such speeds proves how much space the doors of the Jaguar XJL gave us," said the winning drone pilot, Brett Collis. "Despite having to fly through the cabin, we were still pushing the drones to their top speeds." The "Game of Drones," as Jaguar dubbed the race, took place at Alexandra Palace in London, but the automaker is bringing similar experiences to more locations. Jaguar plans to go on an "Art of Performance Tour," where it will bring drone and Smart Cone driving challenges to the public, free of charge.