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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.

All of the Bond cars of 'No Time To Die' (caution for spoilers)

Note: The following overview of the cars in No Time To Die contains spoilers. Read at your own risk, or come back after seeing the film to make sure you caught everything.   No Time To Die picks up right around where Spectre leaves us. James Bond (Daniel Craig) and Madeleine Swann (Lea Seydoux) are driving along in Bond’s restored and iconic DB5 in Matera, Italy. Things donÂ’t stay all that cheery for long in picturesque Matera, though. As is tradition in Bond films, the first car chase hits us with an explosion of action in what's a super-long opening scene. Fourth-gen Maserati Quattroporte: The baddies in the beginning are driving a Maserati and chasing after Bond in the DB5. Specifically, theyÂ’re in a fourth-gen Quattroporte, which feels right for a chase scene in Italy. Its squared-off looks are mean enough, and its Italian growl is a good background soundtrack to the DB5Â’s inline-six. In addition to the Quattroporte, the chase scene in Matera is home to a couple of the best stunts of the entire movie, including the arch jump done with a Triumph motorcycle seen in trailers — Matera is extremely hilly. Eventually, Bond and Swann find themselves in the DB5 again together, which is where the famous gatling gun scene from the trailer commences, but not before the bulletproof windows and body of the DB5 are thoroughly tested. RIP to the first-gen Range Rover Classics and Jaguar XFs that joined the Maserati in pursuit of Bond (here's a list of other Bond cars over the years). As the DB5 escape scene concludes, we catch a glimpse of what appears to be a Ferrari from the 1970s. However, the view was far enough away that weÂ’ll need a second look to be sure of the exact model. Land Rover Series III: Next time we see Bond, heÂ’s fishing in Jamaica and driving around a blue Land Rover Series III. ItÂ’s yet another of the many Land Rover products featured throughout the film, and unlike most of BondÂ’s Aston Martins, this one doesnÂ’t seem to have any unique features. The other intriguing vehicle out of Jamaica? An old Chevrolet Bel-Air expertly and effectively piloted by Bond newcomer, Ana de Armas. Next up, we get a few shots of the new and still-not-for-sale Aston Martin Valhalla mid-engine supercar (also seen in trailers). BondÂ’s old boss M is in the scene which appears to have been shot in some secret wind tunnel of sorts. Much to our dismay, nobody ends up driving the Valhalla in the film. Could it be a teaser for what the next 007Â’s car is?

Jaguar Land Rover parent Tata posts a loss over coronavirus

BENGALURU — India's Tata Motors posted a wider loss for the September quarter on Tuesday as the COVID-19 pandemic sapped demand in several of its key markets. The global health crisis has hammered sales for automakers worldwide and compounded problems for Tata Motors, which was trying to improve Jaguar Land Rover (JLR) sales amid weak demand and uncertainty related to Brexit. Tata Motors reported a consolidated net loss of 3.14 billion rupees ($42.47 million) for the second quarter ended Sept. 30, compared with a loss of 2.17 billion rupees a year earlier. Retail unit sales at luxury car unit JLR, which rakes in most of the company's revenue, was down nearly 12% for the reported quarter. Tata Motors, however, said it expects JLR sales to gradually improve. "Despite concerns around the risk of a second wave of (COVID-19) infections ... we expect a gradual recovery of demand and supply in the coming months," the carmaker said in an exchange filing. Total revenue from operations fell 18.2% to 535.3 billion rupees. Tata Motors said it was committed to achieving near-zero net automotive debt in the coming years. Shares of Tata Motors ended 1.46% higher on Tuesday while the broader Mumbai market settled 1.03% higher.