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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.

Is this a Jaguar or Land Rover of the future? Yes, the near future

Jaguar Land Rover has unveiled a concept vehicle, Project Vector, that the company heralds as preview of future urban transport. The Project Vector is an EV, naturally, and is built on a skateboard chassis with all mechanicals under the floor. That provides for maximum space efficiency in the city-sized vehicle—JLR says it's roughly four meters long, which would make it about half a foot longer than today's Mini Cooper hardtop. It also allows for reconfigurability. The interior is accessed via dual center-opening sliding doors on one side. Four individual seats appear to be mounted on tracks and are shown facing in the same direction, but JLR also says the vehicle can be adapted for delivery use (presumably with most of the seats removed). Project Vector is described as "autonomous-ready," but for now it has a steering wheel and pedals. It's also claimed to be optimized for ride-sharing or private use. The vehicle was developed at the UK's National Automotive Innovation Centre, with the intention to make it a part of the "urban mobility solutions" in the "ecosystem of a smart city," according to JLR. The first such smart city will be Coventry, where an "urban mobility service" will be launched in 2021. Related Video:     Featured Gallery Jaguar Land Rover Project Vector Design/Style Green Jaguar Land Rover Transportation Alternatives Future Vehicles

Land Rover knows where you're going and how you want to get there

Land Rover makes some of the most capable SUVs on or off the road, and some of the most luxurious too. But the British automaker isn't about to rest on those laurels - not when every other automaker assaults its territory with sport-utes of their own. That's why Land Rover has been working so hard on nifty new technologies from a depth-sounder in the door mirror of the Range Rover Sport an augmented-reality head-up display that makes the whole front of the car virtually disappear.
JLR's newest tech may not be ground-breaking, but its integration promises to make driving around town that much easier. The system syncs with the driver's smartphone and uses all manner of parameters - including driver habits, weather and location as well as the presence of other passengers - to make the commute go as smoothly as possible. Get into the car and it'll set the seat and mirrors for you. No big deal, because lots of cars do that. But it'll also set up the nav system to take you to work and the sound system to play your favorite music. Okay, getting more interesting.
Get in with your kids and it'll know not only that you've got to drop them off at school first (or remind you to pack their gym bag if they've got soccer practice after school that day) but that they might not enjoy that Chumbawamba album you've been listening to since college and it'll play something it knows you'll all enjoy based on your listening history. Then it'll switch back to Tubthumping once the kids are out, remind you of your morning meeting and alert those you're scheduled to meet with if you get stuck in traffic while finding you a better route to get there, monitoring fuel levels all the while and telling you if you'll need to tank up before you reach your destination. It knows if you like calling your mother on the drive to work and will lower the air suspension to make it easier to hop out once you get there.