2008 Jaguar Xk Convertible on 2040-cars

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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.

Can a Jaguar XKR-S be drifted while blindfolded?

Bring together a 550-horsepower Jaguar XKR-S and a rain-soaked skidpad, and it's almost impossible to not end up in a sideways drift... accidental or on purpose. With that in mind, the gang over at Autocar got a hold of the monstrous XKR-S for the latest installment of "Will it Drift?," only they raised the stakes a little by attempting the feat with a blindfolded driver
We've driven the XKR-S a number of times here at Autoblog (including a First Drive, Review and Quick Spin), so we weren't at all surprised to learn that blind drifting in the car is possible. But what is remarkable is the ease at which it happened. This, of course, can be credited as much to the car as to the driver, Steve Sutcliffe. Check out the impressive video for yourself, which is posted after the jump.

Jaguar re-releases the toolkit the E-Type came with when it was new

Finding a complete, original toolkit is a rare treat for vintage car collectors. Jaguar's Classic division has its finger on the hobby's pulse, so it launched a reproduction of the toolkit placed in every new E-Type between 1961 and 1971. It lets owners put the final, factory-correct touch on their restoration. The British firm rummaged through its archives to find the toolkit's engineering records in order to make it to the exact same specifications as the original. The list of tools included in the bundle includes pliers, a three-piece screwdriver, a screwdriver used to adjust the ignition points, a feeler gauge, a grease gun, a valve timing gun, and an assortment of wrenches. They're all Jaguar-branded, and they come in a leatherette pouch that's just like the one buyers got when they purchased a new E-Type. It fits neatly in a corner of the E's trunk; the only thing missing is a rag to wipe your hands with when you're done wrenching. Jaguar doesn't offer one -- yet. Jaguar noted that only Series I and Series II variants of the E-Type came with the toolkit, and it went out of production nearly 50 years ago. This is a classic British car we're talking about, so you can safely bet the cost of a full, in-house restoration that the tools saw plenty of use. They inevitably ended up in mix-and-match toolboxes over the years. Sourcing a complete kit in good condition is consequently difficult, and expensive; some trade hands for nearly $6,500. Available online from Jaguar - Land Rover's classic shop, the reproduction is priced at 732 British pounds (about $950), so it's a bargain in comparison. Still, we wouldn't blame owners who decide to keep the toolkit for decorative purposes, and use much cheaper tools when wrenching gets serious.