1973 Jaguar E-type Wire Chrome Wheels on 2040-cars

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Watch this Jaguar XJ220 perform a fiery burnout

We like to think that at least some supercar owners drive their exotic machinery the way they're meant to be driven. The reality is more likely that most pamper them in climate-controlled environments and rarely actually drive them. But Tax The Rich seems dedicated to balancing them all out by hooning the heck out of some of the most expensive and desirable supercars the world has ever seen - whether it's a Ferrari Enzo rallying along dirt roads or a pair of F50s playing tug of war.
The YouTube channel has even played around with a Jaguar XJ220 before, but not quite like this. In its latest clip, Tax The Rich goes a step or two beyond the usual smokey burnout, lighting up the rear wheels of a super-rare Jag, all for our viewing pleasure. And take pleasure we do in the video below, even as part of us cringes at the thought of potentially reducing one of the fastest Jaguars in history to a smoldering hulk.

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.

Ian Callum says Jaguar could do new wagon after all

Just the other day we brought you a report from Automotive News Europe that indicated that Jaguar was getting out of the wagon market. Now it turns out that may not actually be the case. Following the ANE report, Jaguar design boss Ian Callum tweeted out that he had been misquoted. "I said there would be no XE Sportbrake," wrote Callum. "Nothing more!" While stopping short of spelling out what the British automaker has in the pipeline, Callum's implication (by process of elimination of other Jaguar models) is that the new XF could still breed a wagon version. The previous XF Sportbrake, which also came in XFR-S performance spec, was only the second wagon Jaguar had ever made. The first was based on the X-Type that preceded the new XE; offering a long-roof version of that new sports sedan is apparently off the table, but even with the new F-Pace crossover ostensibly filling the role, a new XF Sportbrake could yet become a reality. Of course none of that means that such a wagon would make its way to North America. But we take a great deal of stock in what Callum has to say on the subject, seeing as how he designed every one of the models in question. The X-Type Sportwagon was offered Stateside, however the XF Sportbrake never was, and in addition the F-Pace promises to be a big player for the automaker on this side of the Atlantic. Do you think Jaguar should make a wagon out of the new XF, and bring that wagon to these United States? This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Video: