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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's V8-powered F-Pace SVR gets quicker and meaner-looking for 2021

Jaguar is making several visual and mechanical changes to the F-Pace SVR for the 2021 model year. The modifications turn the SUV into a quicker, meaner-looking cat with an appetite for all things Cayenne-flavored. Power for the SVR still comes from a supercharged, 5.0-liter V8 rated at 550 horsepower, but its torque output increases from 502 to 514. Although that's not a drastic improvement, it's enough to lower the SUV's zero-to-60-mph time to 3.8 seconds (three-tenths of a second quicker than before), and to raise its top speed from 176 to 178 mph. Jaguar also gave the F-Pace the XE Project 8's torque converter, and a Dynamic Launch function that relies on driveline inertia to ensure the power flow to the wheels isn't interrupted when the transmission shifts. Revised suspension components and a retuned steering system complement the driveline tweaks. Engineers also developed a recalibrated braking system with an electric booster that improves stopping performance. All-wheel drive and an eight-speed automatic transmission linked to shift paddles continue to come standard. Stylists made subtle visual changes that add up to give the F-Pace a cleaner, sharper design while reducing drag by 35%. Up front, the hood now stretches all the way to the edge of the grille, the headlights gain two individual strips of LED accents, and the trim around the air dams on the lower part of the bumper has been reshaped. Out back, the lights ditch the hemisphere-shaped insert -- a nod to the F-Type -- for a completely horizontal design. The nip-and-tuck is aligned with the one Jaguar performed on the non-SVR variant of the F-Pace. In 2020 more than ever, technology is the yardstick used to measure luxury cars, so Jaguar invested a significant amount of time and money into making the SVR smarter and more connected. It added a 12.3-inch high-definition touchscreen for the Pivi Pro infotainment system, the ability to receive over-the-air software updates, a wireless device charger, and active road noise cancellation technology, among other features.  As the flagship of the F-Pace family, the SVR needs to look and feel suitably posh inside, and our time behind the wheel of the outgoing model suggests that wasn't always the case. Jaguar tells us it addressed this shortcoming. The 2021 SVR's interior gets a split-rim steering wheel, a redesigned center console with more storage space and a shorter gear selector, plus a new-look climate control panel.

Jaguar sculpture by RCA design students is a minimal beauty

With its well-deserved reputation for high design, it is not particularly surprising to see Jaguar reaching outside of the automotive realm for future inspiration. To that end, the British automaker recently enlisted the talents of students at the Royal College of Art to create a piece of forward-looking, automotive-inspired sculpture.
The result of this project can be seen above; a sculpture created by RCA students Claire Miller and Ewan Gallimore, and unveiled to a small audience to kick off London's Clerkenwell Design Week. The spare and rather elegant form created by the talented pair absolutely harkens back to coupes from Jaguar's past as well as its present (read: F-Type) without aping any one model particularly.
In a press release, the artists had this to say about the work: "Our form relates to the Jaguar brand through its sculptural volumes, bespoke materials and visual lightness. These elements helped us to create a sculpture that aimed to display a seamless transition between interior and exterior space." Get a better look at the Jaguar artwork in the gallery above, or read through the press release, which follows.