1999 Jaguar Xk8 Convertible - Clean Jag, Clean Carfax, Low Miles, Loaded! on 2040-cars

Auto blog

Seven-figure cars highlight day one of RM's Monterey auction

RM Auctions is one of several houses holding auctions during the Monterey weekend, and Friday night's festivities got quite pricey. Seven-figure vehicles were not at all uncommon during the first day of the two-day event, with the 1953 Ferrari 375 MM Spider, seen above, crossing the block for $9,075,000.
Other big earners included a pair of rare Ferraris, a 1950 166 MM Barchetta and a 1955 750 Monza Spider, which took $3,080,000 and $4,070,000, respectively. Outside of the red Italians, a 1939 Mercedes-Benz 540K Special captured $7,480,000 while a stunning, color-appropriate 1955 Jaguar D-Type took $3,850,000. We've got images of these vehicles, and a few other stunning examples of last night's auction, in the gallery above.
Thought it seems impossible, tonight's auction is expected to see even more high-dollar action. The winner of the 2012 Pebble Beach Concours, a 1928 Mercedes-Benz 680S Torpedo Roadster is expected to command over $10 million. Also crossing the block will be a car we reported on a few weeks back - a supremely rare 1967 Ferrari 275 GTB/4 NART Spyder. One of only 10 in the world, it's expected to take anywhere from $14 to $17 million when it hits the stage tonight.

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

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.