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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 F-Type Checkered Flag edition marks 70 years of sports cars

Jaguar's first sports car, the XK 120, debuted in 1948, right in the midst of Britain's postwar recovery efforts. Since then, the company has had decades of success building everything from lightweight roadsters to record-setting supercars. Currently, the automaker's performance lineup is led by the Jaguar F-Type coupe and roadster. To celebrate 70 years of building performance cars, Jaguar is releasing a new special edition, the F-Type Checkered Flag. Most of the upgrades are visual and are available on both coupe and convertible models. In addition to badges and logos on the rear bumper, headrests, kick plates and steering wheel, the cars will be fitted with brushed aluminum trim and black leather. The steering wheel will have a red center marker at its top. There are additional red and white accents throughout the rest of the car. The F-Type Checkered Flag will be available in three colors: Caldera Red, Fuji White or Carpathian Grey, all with a contrasting black roof. Jaguar F-Type Checkered Flag View 18 Photos Somewhat surprisingly, the Checkered Flag upgrades will only be applied to four- and six-cylinder models paired with the eight-speed automatic. Turbocharged four-cylinder cars make 296 horsepower, while the supercharged V6 models make either 340 or 380 horsepower. The 380 horsepower model can be equipped with all-wheel drive. The F-Type R Dynamic package (not the same as the V8-powered F-Type R) packs revised dampers for a smoother ride. Other general changes for the 2020 model year include revised dampers on the F-Type R coupe and convertible. The F-Type R gets the SVR's rear upper ball joint, rear knuckle and rear control arm. A rear camera and parking sensors are standard across the board. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: Jaguar Jaguar Convertible Coupe Luxury Performance

Audi and Jaguar Land Rover recalls address seatbelt issues

Audi and Jaguar Land Rover are each recalling several thousand vehicles for separate potential seatbelt issues. The recalls cover the 2022 Audi A3 and S3; 2022 Jaguar F-Type, F-Pace and XF; and the 2022-23 Land Rover Defender, Discovery, Discovery Sport, Range Rover Sport and Range Rover Velar. Examples of these vehicles may have shipped with seatbelt pretensioners that will not function properly in the event of an accident.  Audi is recalling its sedans for tensioner devices that may not adequately restrain drivers or passengers during a crash. The issue was discovered during Korean market crash testing of the high-performance RS 3.  "The seat belt tensioner in the affected vehicles serve the purpose of holding the passenger in his position in the seat," Audi said in its defect report to NHTSA. "In the event of a crash, the retention force of the seat belt may not reach the intended level. As a result, the position of the body can be further to the front of the seat, which leads to a negative influence on the whole restraint system, increasing the risk of injury." A different company, Jaguar Land Rover (JLR), meanwhile, also has an issue with a batch of pretensioners installed in its cars and SUVs. Pretensioners are the devices that fire off to rapidly retract the seatbelt when a crash is detected. Most utilize an explosive charge and pressure tube JLR says that some pretensioner devices provided by one of its suppliers may not have properly-specified pressure tubes that may not channel the gasses to the retraction mechanism correctly.  "A damaged front seat belt pretensioner tube may have been installed on the seat belt retractor," JLR's report said. "This may result in a reduced level or complete loss of pre-tensioning in the event of a crash and increased occupant injury." Owners of the models included in both recall campaigns should receive notices from the manufacturers in the coming months.  Related video: Recalls Audi Jaguar Land Rover Ownership Safety SUV Sedan