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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.

Lister says it'll tune F-Pace SVR into the world's fastest SUV

The Jaguar F-Pace SVR is fast. Blisteringly fast. With its 550-horsepower, five-liter V8 it will hit 60 mph in just 4.1 seconds and go on to 176 mph. That sounds like the perfect blank canvas for Jaguar outfitter Lister, doesn't it? Known for its Jaguar-based race cars and road-going specials, Lister has built some legendary cars in its time. Now, accompanied by the teaser image the company's account tweeted yesterday, Lister says it'll build the world's fastest SUV out of the F-Pace SVR. It'll actually have to be really, really quick, as several sports utility vehicles now hit 60 mph in well under 4 seconds. The Tesla Model X P100D does that in 2.9 seconds with Ludicrous Mode selected, thanks to its electric grunt. On the fossil fuel side of things, there's the Grand Cherokee Trackhawk, which relies on the 707hp Hellcat V8 to reach 60 mph in 3.5 seconds. That number is matched by the Lamborghini Urus, and another Italian, the Alfa Romeo Stelvio Quadrifoglio can get to 60 in under 4 seconds. Beat all of those, Lister, and the throne is yours. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earlier in an Autocar interview, Lister's Lawrence Whittaker claimed the Lister-tuned SVR will have as much as 670 horsepower, a good hike up from the stock vehicle's power figure. Reportedly 250 units will be built. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: Lister Cars Jaguar Crossover SUV jaguar f-pace lister jaguar f-pace svr

2014 Jaguar F-Type, Project 7 Concept snarl in Jay Leno's Garage

Jay Leno gets to drive a lot of nice cars, and the Jaguar F-Type V8 S he pilots in the latest episode of Jay Leno's Garage is no exception. Eric Johnson, vice president of Jaguar Western Region brought the car to Leno's garage, which impresses the comedian with its 5.0-liter V8 that makes 495 horsepower, 460 pound-feet of torque and a muscle car-like roar.
But there's a surprise this episode: Leno secured a drive in the Project 7 Concept at Pebble Beach this year, and the experience was caught on video. Based on the F-Type, the Project 7 is a functional concept car that nods to Jaguar's seven wins at Le Mans and features bespoke styling cues, a special exhaust system and, perhaps most importantly, 50 more horsepower from the supercharged V8.
Watch the latest episode of Jay Leno's Garage in the video below. You'll need a little over 23 minutes to see the whole thing.