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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.

Jaguar Activity Key | 2017 Autoblog Technology of the Year Finalist

In principle, the Jaguar Activity Key is a good idea. It's simple, useful, and relatively inexpensive. Unfortunately, in our testing it was less than reliable. Here's how it's supposed to work: To lock the car, leave your keys and fobs inside the vehicle, and strap the band on your wrist. Then, within 30 seconds, place your banded wrist against the letter J of the Jaguar script on the back tailgate. When you come back, you can unlock the vehicle by pressing the tailgate opening button, then, again within 30 seconds, placing the Activity Key band against the J of the Jaguar script. We chose the Jaguar Activity Key as a finalist for our 2017 Tech of the Year award because it's an uncomplicated device with lots of potential customers. Jaguar says the wristband is "robust and fully waterproof." Swimmers, surfers, kayakers, hikers, and even couples out for a sunny-day picnic could use a feature like this wristband key. Plus, wearables are pretty new as a category in general, and even more so in the automotive space. We didn't go skydiving with it or anything (an activity Jaguar cites as a potential usage case), but we did dunk it in water with no ill effects. While it all sounds good in theory, actually getting the Activity Key to work effectively was unexpectedly difficult, especially when the cameras were rolling. We tried varying the timing between closing the door and using the wristband, as well as between using the tailgate button and the wristband. It worked about half the time, regardless of our process or who was wearing the wristband. Whether our issues with the wristband were due to interference, new-technology teething problems, or just electrical gremlins, the idea of purposely locking the keys inside an automobile without having a foolproof way to unlock it gives us reason to pause. The Activity Key is a $400 standalone option on the 2017 Jaguar F-Pace, but only on Prestige, R-Sport and S models. The least expensive F-Pace with Activity Key costs $51,095.

Jaguar Land Rover recalls Takata airbag-equipped cars

In the latest chapter of what feels like the never-ending recall, Jaguar Land Rover announced that it's calling back 2009-2011 Jaguar XFs and 2007-2011 Land Rover Range Rovers for defective Takata airbags on the front passenger side. These Takata airbags have propellant that may have degraded and, if activated, could release metal shrapnel. The company is breaking up the recall into four phases, since currently there are not enough parts to do a full recall. Since the airbags can be more seriously affected by high heat and humidity, the first phase will cover vehicles that were sold and/or registered in regions with high temperatures and humidity. The regions included are as follows: Alabama, California, Florida, Georgia, Hawaii, Louisiana, Mississippi, South Carolina, Texas, Puerto Rico, American Samoa, Guam, the Northern Mariana Islands, and the US Virgin Islands. Other phases will begin as parts become available, and priority will be given to regions at greater risk of having defective equipment. Jaguar Land Rover encourages owners of affected vehicles to go to www.SaferCar.gov to check if their vehicle is included in the current recall. The first phase includes 54,000 of 108,000 affected vehicles. The company is also notifying owners of the issue, who will eventually get a second notification when parts are available so they can schedule a time to have the airbags replaced. Related Video: