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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 Land Rover offers (some) detail about new Ingenium engine

Jaguar Land Rover officially announced its Ingenium family of engines with the unveiling of the 2.0-liter version in the Jaguar XE concept at the 2014 Geneva Motor Show, but it kept details very thin at the time. All we knew was that the new turbocharged mills could be configured to use gasoline or diesel, and be positioned longitudinally or transversely. Months later, JLR is finally letting some more info slip about its new baby, but there are still some big questions to be answered.
For the Ingenium project, Jaguar Land Rover gave its engineers a clean sheet of paper and told them not to worry about using any previous parts or machinery. In the end, the designers came up with a family of turbocharged, aluminum-block engines based around modular, 500cc cylinders to allow it to grow or shrink as the market demanded. The layout was also made adaptable enough to incorporate hybrid drivetrains, if needed. "Being configurable and flexible are the two key strands of Ingenium's DNA because we have future-proofed our new engines from the outset," said said Ron Lee, the company's director of Powertrain Engineering.
To maximize efficiency, Jaguar promises that all versions of the Ingenium engines come with computer-controlled, variable oil pumps and water pumps to use only as much energy as needed. They also get direct injection, roller bearings for the cams and stop/start. The diesel version alone has 17 percent less internal friction than the mill it replaces, the company claims. JLR is also promising class-leading figures for Ingenium's torque and horsepower too, but it's not giving away those specs just yet.

Volvo's EX30 woes, Rivian's big deal and the return of 'Crazy Taxi' | Autoblog Podcast #839

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Byron Hurd for a tight episode sure to make your holiday travel that much more vehicularly simulating. They start off with some updates on their recent drives. Greg has been in the 2024 Range Rover Velar and the 2024 Mercedes-Benz EQE SUV. Meanwhile, Byron just got the long-term 2023 Subaru WRX back from the shop with a pile of STI accessories installed — including a boomy new exhaust system! After that, it's on to news. The big items this week are the latest from Rivian, Volvo's EX30 launch drama and the return of an old-school automotive video game franchise: Crazy Taxi! After that, it's time to spend your money — with a twist! Autoblog Podcast #839   Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown News Volvo's European EX30 launch plagued by software issues, refunds Rivian's big deal Crazy Taxi returns! What we're driving Mercedes-Benz EQE SUV Range Rover Velar Long-term 2023 Subaru WRX Spend my money! Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Podcasts Toys/Games Land Rover Mercedes-Benz Subaru Volvo SUV Hybrid Luxury Rivian