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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 gets even more British with Design Edition

Short of maybe driving a Morgan while wearing tweed and smoking a pipe, automobiles don't come much more quintessentially British than a Jaguar. But now the F-Type is going to be even more so with the launch of the new British Design Edition. It's based on the six-cylinder F-Type S, but upgrades with a series of special touches to set it apart. Red, white, and blue are the dominant colors from which buyers will be able to choose both the exterior color and that of the interior contrast stitching. The leather interior comes in black, and those less patriotically inclined can spec the outside to match. The British Design Edition also features 20-inch wheels in dark gray satin finish, packing upgraded brakes with red calipers. The Design package comes standard with upgraded aero, as does the 12-speaker Meridian sound system. And naturally there are special insignia inside and out. Buyers will be able to choose between coupe or convertible and rear- or all-wheel drive, but either way motivation comes in the form of JLR's 3.0-liter supercharged V6, driving 380 horsepower and 339 pound-feet of torque through an eight-speed automatic transmission. Only 300 units will be coming to the United States, with prices starting at $92,100 (plus a $995 destination charge) – representing a substantial $14.8k premium over the $77,300 price of entry for an F-Type S Coupe. Spec one out with similar options and you'd be looking at $86,250, which makes the privilege (and resale value) of acquiring the limited edition a $5,850 proposition. Any way you cut it, though, the elbow patches cost extra.

Jaguar I-Pace EV will finally be revealed, available to order March 1

It sure feels like the Jaguar I-Pace electric car concept was revealed longer ago than November 2016. That might be because in addition to running barely camouflaged production models around for months, the company has even announced a one-make race series with the car before we've seen the revealed production model. But the wait is almost over. The company finally announced a reveal date of March 1. This comes just before the Geneva Motor Show, and the debut will be shown on a livestream. Not only that, but Jaguar will be taking orders for the EV the same day. Reveal and order dates weren't the only things Jaguar announced regarding the I-Pace. The company also said the I-Pace will be able to get an 80 percent charge from a DC fast charger in just 45 minutes. This charge time necessitates a 100-kW fast charger, though, so that time may vary in real life based on what chargers are available. This is also greater charging capability than Jaguar claimed when the concept was revealed, which promised an 80 percent charge in two hours on a 50-kW fast charger. Jaguar hasn't revealed many other details about the production car yet. When the concept was shown, Jaguar claimed it made 400 horsepower and had a range of 220 miles. The prototypes we've seen on the road also look extremely similar to the concept, so there shouldn't be much, if any, disappointment in the styling department when it's revealed. Related Video: