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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 'Design Study' headed to Goodwood

With the Goodwood Festival of Speed taking place this weekend, Jaguar has announced it will be there with its new trio of R models as well as a design study version of the hot new F-Type sports car. While we've already seen the XFR-S last year at the LA Auto Show and the XJR and XKR-S GT at the New York Auto Show, the F-Type design study has our attention.
Based on our recent sighting of a fixed-roof F-Type being tested in full camouflage, this could mean that we'll finally get to see a sexy F-Type Coupe in near-production form. Of course, with all of the other R branded models on display, Jaguar could also unveil a sporty new R - or maybe even an RS - F-Type roadster. Whatever is planned, it will not be a static display - Jaguar says the design study car will be in action, making the fabled run up Goodwood Hill with chief engineer Mike Cross at the wheel. Scroll down for more information about what Jaguar has planned for Goodwood.

Jaguar's futuristic 'Sayer' steering wheel might make your morning coffee

In the not-too-distant future, it would be the only part of the car you'd actually own. If it were the subject of a surrealist painting from 1929, it might feature the tagline, "Ceci n'est pas un volant," the French word for steering wheel. Jaguar calls it Sayer and says it's the steering wheel of the future — the first voice-activated, artificial intelligence steering wheel that will be able to carry out hundreds of tasks and follow you from car to car. "Imagine a future of autonomous, connected and electric cars where you don't own a single car, but instead call upon the vehicle of your choice where and when you need it," the company says. "That's a future vision Jaguar Land Rover is exploring with Sayer, the connected steering wheel that could be the only part of the car you own." Automakers focused on developing autonomous vehicles have proposed doing away with pedals and steering wheels, but this is the first we've heard of that envisions the steering wheel, such as it is, as your veritable car keys in a self-driving, car-sharing world. Jaguar says it could order up a ride to get you where you need to go on time, and it could even advise you when you might enjoy driving part of the journey yourself. No word on whether it can sync with a toaster for breakfast, however. The concept device is named after Malcolm Sayer, a Jaguar designer from 1951 to 1970 who's responsible for the E-Type and D-Type racer, which won the Le Mans 24-hour race three times in a row in the 1950s. It will feature on a Jaguar concept called Future-Type in 2040. In the meantime, it will be unveiled at Tech Fest at Central St. Martins, University of the Arts London on Thursday, Sept. 7, as part of the automaker's "Technology with Heart" presentation. The festival is free to the public Sept. 8-10. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: Jaguar Green Weird Car News Jaguar Technology Emerging Technologies artificial intelligence steering wheel voice command