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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.

Jeep sets all-time sales record in 2012

Last year was good to Jeep. Chrysler has announced its trail-rated brand set an all-time global sales record in 2012 by moving 701,626 units. That number easily surpasses the previous record set in 1999 when Jeep sold 675,494 models. All told, the brand saw a 19-percent sales increase worldwide over 2011, and much of that swell can be traced directly to the Wrangler. While the Grand Cherokee led Jeep sales, the Wrangler posted record numbers both globally and within the US, moving 194,142 and 141,669 units in each market, respectively.
Meanwhile, the Compass beat its previous global sales record with 103,321 units rolling off of dealer lots. In the US, Jeep sold 62,010 Patriot units, breaking that model's previous record as well. Jeep's impressive performance in 2012 marks the second year in a row the brand has seen double-digit percentage sales increases. Check out the full press release below.

Chrysler gets presidential in ads for 200 and 300

Many people are already tired of the candidates in the 2016 presidential race, but Chrysler's new spokesmen are two former Commanders-in-Chief that just about everyone can support – Martin Sheen and Bill Pullman. Sheen had Aaron Sorkin's writing to guarantee he always knew the right thing to say as President Josiah Bartlet on The West Wing, and Pullman fought an alien invasion from a fighter jet as president in Independence Day. Now, these former on-screen presidents help Chrysler sell the 300 and 200 in two new ads. American-est (above) lets Sheen go wild spouting meaningless patriotic aphorisms while slipping in references to the cars' features. Swerve (below) gets a little more directly political by joking about pandering to "nuts" on the fringe during the primary, but the actors still slide in a mention of the vehicles' safety tech. These spots might help Chrysler move a few more units of the 200 before the company impeaches the sedan from the lineup, and the automaker also promises more commercials with Sheen and Pullman in the coming months. We hope Pullman jokes about his fight against aliens in one of the future commercials. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. CHRYSLER PUTS ELECTION YEAR TWIST ON ITS NEW "PRESIDENTIAL" MARKETING CAMPAIGN FEATURING MARTIN SHEEN AND BILL PULLMAN Martin Sheen and Bill Pullman reprise presidential roles in series of television spots "Premium to the People" marketing campaign debuts just in time for President's Day Additional television spots in campaign series with Martin Sheen and Bill Pullman will be introduced in coming months Campaign's first two spots, "American-est" and "Swerve" feature both the Chrysler 200 and Chrysler 300 360-degree campaign to feature television, print, online, social and digital extensions February 15, 2016 , Auburn Hills, Mich. - The Chrysler brand is launching a new campaign, "Premium to the People," featuring actors Martin Sheen and Bill Pullman. The campaign will launch with two commercials – "American-est" and "Swerve" – both featuring the Chrysler 200 and Chrysler 300. A :60-second "American-est" will launch across online, in addition to the :30-second "Swerve" across both television and online, today, February 15 (President's Day). Additional television spots will roll out in the coming weeks and months. A :30-second version of "American-est" debuted across television on Sunday, February 14.