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Weekly Recap: Toyota, Mazda team up to 'make cars better'

Toyota and Mazda are teaming for a noble purpose: to "make cars better." That's how the two Japanese automakers termed their partnership, which was announced this week. So what does this actually mean? The companies said they will set up a joint committee to look for areas of cooperation and named safety and the environment as issues they plan to tackle. From a product perspective, it's believed that Toyota is interested in Mazda's Skyactive engine portfolio. In turn, Mazda has its eye on Toyota's fuel-cell and plug-in hybrid technology. While more specifics were not confirmed, the companies said the "agreement will go beyond the traditional framework of cooperation," and it has the potential to be a long-range partnership. "The main purpose of this initiative is to enhance the appeal of our cars," Toyota president Akio Toyoda said at the announcement. Previously, Mazda has licensed Toyota's hybrid tech and assembled compact cars for Toyota in Mexico. Akio Toyoda said these projects "triggered" the automakers to explore further collaboration. Dave Sullivan, product analysis manager for AutoPacific, said the tie-up echoes Daimler's wide-ranging work with the Renault-Nissan alliance. "This could be a well-groomed match due to each having very unique skill sets," he said. OTHER NEWS & NOTES Volvo selects South Carolina for US factory Volvo confirmed this week that it will build its first US factory in South Carolina, with construction set to begin this fall. The company first revealed plans in March, though it didn't announce a site. The plant will have initial annual production of 100,000 units, though the vehicle or vehicles to be assembled were not specified. The factory, located near Charleston, will open in 2018 and ultimately employ 4,000 people. The facility will help Volvo continue its growth strategy, which includes strengthening its presence in the US market, where it wants to sell more than 100,000 cars per year. "Building a plant in the US is a reflection of Volvo Cars' commitment to the US and the key role the US plays in our growth objectives," Lex Kerssemakers, senior vice president, Americas, said in a statement. Ford GT spied on the road The 2017 Ford GT was spotted testing around the Blue Oval's headquarters in Dearborn, MI, this week. The raw body panels were exposed, and they lacked paint or camouflage. It's the first time the GT has been captured on the street after a spring of auto show reveals.

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.

Ford expands air bag recall nationwide

Ford Motor Co. has agreed to government demands to expand a driver's side air bag inflator recall to the entire U.S. The move announced Thursday adds 447,000 Ford vehicles to the list of those recalled due to driver's inflators made by Japan's Takata Corp. The inflators can explode with too much force, spewing shrapnel into drivers and passengers. Ford's action puts pressure on BMW and Chrysler, the only two automakers that haven't agreed to national recalls. The National Highway Traffic Safety Administration made the demand of five automakers, saying the inflators are dangerous. Honda and Mazda already took their recalls national. Previously the recalls were limited to high-humidity states mainly along the Gulf Coast. The Ford national recall covers certain 2005 to 2008 Mustangs and 2005 and 2006 GT sports cars. The company also announced it would recall the same cars in Canada, Mexico and a few other countries. Thursday's announcement brings to just over 502,000 the number of Ford vehicles under recall for Takata driver's side air bags. The company said it knows of one accident and injury from the problems, in a 2007 Mustang in North Carolina. Dealers will replace the inflators at no cost to customers. Last month, NHTSA demanded that Takata and the five automakers recall driver's inflators across the nation.Takata and Chrysler have refused and could face legal action. BMW says it's still evaluating the demand. Takata hired the New York public relations firm Sard Verbinnen & Co. and took out full-page advertisements Thursday in newspapers including The New York Times, The Wall Street Journal and three German publications. The ads, featuring a letter from Chairman and CEO Shigehisa Takata, said the company will work with NHTSA and automakers to expand the recalls by increasing production capacity for replacement air bags. The company said it's exploring whether other companies' air bags can be used in replacement kits, and it's increasing testing to find the exact cause of the problems. "Takata will work in unison with automakers to advance our common goal of putting the safety of customers first," the letter said. But in documents filed with NHTSA, Takata refused to do a national recall, saying it's not supported by testing data. The company also said NHTSA didn't have the authority to order a parts supplier to do a recall, and that only automakers can conduct them.