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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.

Dodge Viper and Jaguar XK revival | Autoblog Podcast #543

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Green Editor John Beltz Snyder and Consumer Editor Jeremy Korzeniewski. We talk the possible rebirth of the Dodge Viper and Jaguar XK, as well as the recent goings-on at Tesla. Then we share some of our experiences driving in Europe. We also discuss the cars we've been driving, and help spend another listener's hard-earned dough in this week's "Spend My Money" segment. Autoblog Podcast #543 Your browser does not support the audio element. Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Dodge Viper and Jaguar XK to make a return? Tesla Model 3 braking issues and Elon Musk vs. media Driving in Europe Cars we've been driving: Porsche Panamera Turbo S E-Hybrid Sport Turismo, Infiniti QX50, Range Rover Velar Spend my money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Auto News Green Podcasts Dodge Infiniti Jaguar Land Rover Porsche Tesla Car Buying Used Car Buying Driving Safety Performance jaguar xk infiniti qx50

Jaguar F-Type SVR and Range Rover Evoque Convertibles go rainbow for Pride

BMW isn't the only automobile company getting involved in Pride Week, as Jaguar Land Rover announced it also has cars that will participate. And yes, they're convertibles with rainbow stripes. On Sunday, June 30, Jaguar Land Rover (JLR) will participate in the NYC Pride March with several themed vehicles and employees walking next to them. JLR chose two of its most intriguing vehicles in the Jaguar F-Type SVR convertible and the Range Rover Evoque Convertible. Jaguar unveiled two different F-Type SVRs, one in a gorgeous blue and the other in white. Both cars have the same detailing, though, including rainbow stripes on the the sides, rear bumpers, and hoods. The F-Types also have rainbow stripes across the tops of their windshields, and "JAG YOU ARE" decals across the windshields and rear bumpers. The silver Evoque is only slightly different. It, too, has rainbow stripes across its doors, rear bumper, and windshield. Rather than a "JAG YOU ARE" decal, however, "EVOQUE" is spread across the front bumper in rainbow lettering. You can check out these unique models at the Pride parade in NYC.