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Porsche says half of its sales will be electric by 2023

Porsche, whose presence in the plug-in vehicle market has been pretty minimal, now plans to substantially boost its commitment to electric vehicles in the next few years. The German luxury automaker intends to dedicate up to half its annual production to electric vehicles by 2023, Electrek reported, citing comments CEO Oliver Blume made to German publication Manager Magazin. Specifically, the company says it will be able to produce as many as 60,000 EVs annually from its Zuffenhausen factory in Germany. First and foremost will be Porsche's Mission E, which is slated to debut in 2019. That model will be able to go about 310 miles on a full charge (via the more generous New European Driving Cycle, or NEDC). Porsche first showed off a concept version of that 590-horsepower beast at the Frankfurt Motor Show in 2015. The company hasn't hinted at pricing for the car, which will have a 90-kilowatt battery and will jet from 0 to 60 miles per hour in a tidy 3.5 seconds, but expect it to be well into six figures. Porsche also plans an all-electric version of the Macan, its biggest seller. But Porsche's math indicates bigger plans than that. Porsche delivered nearly 238,000 vehicles last year, so an output of 60,000 EVs at Zuffenhausen is only a quarter of the total, not half. You can assume then that Porsche has plans to electrify other models that it hasn't announced yet, built at other factories. It might also be counting hybrids in its "half" projection. Last month, Porsche decided to discontinue its plans for a plug-in hybrid variant of its iconic 911 model, suggesting a temporary pullback of sorts. Then again, in April, reports surfaced that Porsche and Audi, both owned by Volkswagen, were collaborating on vehicle-electrification technology as well as autonomous driving advancement. Porsche's green-car sales have been so thin that Autoblog last year officially pulled the German automaker off of its monthly green-car sales tally. For 2015, the most recent year we tracked, Porsche sold 1,738 plug-in vehicles, about the same as 2014. Related Video: Featured Gallery Porsche Mission E Concept: Frankfurt 2015 View 37 Photos News Source: Electrek, Manager MagazinImage Credit: Drew Phillips Green Audi Porsche Volkswagen Electric mission

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.

2013 Volkswagen GTI Driver's Edition brings exclusivity to the granddaddy of hot hatches

The Volkswagen booth at this year's Chicago Auto Show was filled with various special edition models of the Beetle and GTI. In addition to the GTI Wolfsburg Edition, the Volkswagen GTI Driver's Edition helps to wrap up the 2013 model year as VW readies the all-new MkVII Golf next year.
Only 3,000 of the GTI Driver's Edition models will be produced in four-door body style only, and the available color palette will be limited to just Candy White, Carbon Steel Gray and Deep Black. The package will come standard with the GTI's Sunroof and Navigation package, and it will add unique features such as the 18-inch "Laguna" wheels, a golf-ball shift knob, partial leather seats and red-stitching on the carpeted floor mats. Buyers of this package will also get a certificate of authenticity and some GTI swag such as a hat, keychain and parking sign.
Starting price for the 2013 Volkswagen GTI Driver's Edition is $29,695 with the six-speed manual and $30,795 if you choose the DSG - both prices exclude destination charges.