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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.

Detroit 3 to implement delayed unified towing standards for 2015

Car buyers have a responsibility to be well-informed consumers. That's not always a very simple task, but some guidelines are self-evident. If you live in a very snowy climate, you generally know a Ford Mustang or Chevrolet Camaro might not be as viable a vehicle choice as an all-wheel drive Explorer or Traverse, for example. If you want a fuel-efficient car, it's generally a good idea to know the difference between a diesel and a hybrid. But what if it's kind of tough to be an informed consumer? What if the information you need is more difficult to come by, or worse, based on different standards for each vehicle? Well, in that case, you might be a truck shopper. For years, customers of light-duty pickups have had to suffer through different ratings of towing capacities for each brand. For 2015 model year trucks, though, that will no longer be a problem. According to Automotive News, General Motors, Ford and Chrysler Group have announced that starting with next year's models, a common standard will be used to measure towing capacity. The Detroit Three will join Toyota, which adopted the Society of Automotive Engineers' so-called SAE J2807 standards way back in 2011. The standard was originally supposed to be in place for MY2013, but concerns that it would lower the overall stated capacity for trucks led Detroit automakers to pass. Ford originally passed, claiming it'd wait until its new F-150 was launched to adopt the new standards, leading GM and Ram to follow suit. Nissan, meanwhile, has said it will adopt the new standards as its vehicles are updated, meaning the company's next-generation Titan should adhere to the same tow ratings as its competitors. While the adoption of SAE J2807 will be helpful for light-duty customers, those interested in bigger trucks will still be left with differing standards. There is no sign of the new tow standards being adopted for the heavy-duty market.

Chrysler Airflow EV concept teased with new nose ahead of NY Auto Show

Chrysler is once again teasing its battery-electric Airflow concept. The company has issued a new image ahead of its official debut at the New York Auto Show later this week. The rendering, as well as language in the accompanying release, indicates that Chrysler may have redesigned the concept before a production version even hits the market. The latest image shows a long, thin light bar at the Airflow's nose, with acute angles just before the headlight to create a bit of a "lightning bolt" zig-zag. There's also a wide, U-shaped graphic below the bar, and a "grille" featuring a pattern of slits that surrounds the bar. Previous Airflow images from Chrysler — released as recently as January at CES — have shown a very different front end. There, a differently shaped bar was broken up by a stylized Chrysler logo, done up in an outline of the traditional wings. The ends of the bar extended to the edges of the headlights without any sharp angles. It also appeared to have a different grille texture above and below the bar. "Chrysler will unveil a new look for the brandÂ’s all-electric Chrysler Airflow Concept at the 2022 New York International Auto Show," the press release states. The same statement also refers to "a potential design path on the brandÂ’s journey to an all-electric future." The Airflow is the latest in a slew of luxury models promised by automakers trying to re-invent their brands by going electric. It is named after the revolutionary 1934 Airflow, the first automobile to employ aerodynamics in its design. Though not a commercial success, it is credited with forever changing automotive styling principles. Although EVs are no longer avant-garde, Chrysler seems to hope that the new Airflow will make as dramatic a change in the industry, or at least revive the brand.