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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.

2016 Ford Focus RS shows up in Geneva, still bound for America [w/video]

Representing the super-hot hatchback movement at the 2015 Geneva Motor Show, we have the 2015 Ford Focus RS, the third-generation to wear the performance-focused designation. Bound for America for the first time, it's fair to say we're darn excited for the Focus RS and its 2.3-liter, turbocharged four-cylinder. With at least 315 horsepower under the hood and the long-awaited inclusion of an all-wheel-drive system, there's little arguing that the RS will be seriously quick off the line. It should be darn good through the bends, too. The all-wheel-drive system packs a Dynamic Torque Vectoring Control system that sends up to 70 percent of the power to the rear axle. On top of the AWD's torque vectoring ability, the Focus RS adds a brake-based torque vectoring system, which transfers power laterally, as needed. Michelin Pilot Sport Cup 2 tires should only help keep the RS glued to the tarmac. A three-pedal setup is the sole transmission option, which should delight purists. According to Ford, both the clutch and the trans itself have been bolstered to handle the 2.3-liter's power. Ford also comprehensively upgraded the looks of the Focus RS relative to the lesser Focus ST. Its enormous rear wing and the back bumper's rear diffuser complement the car's menacing face. The ST's center-exit exhaust has been ditched for a meaty set of pipes, while the car on display in Geneva shows off a different set of alloys than what we saw during the car's original debut. Check out our full gallery of live photos of this hot Ford, available up top. And be sure to check out our Short Cut of the new hot hatch by scrolling down. All-New Ford Focus RS; High-Performance Hatch with Innovative All-Wheel Drive Set for U.S. Debut - Third-generation Ford Focus RS will be available in major markets around the world and for the first time in the United States; Focus RS follows the reveal last month of the new Ford GT supercar – a new era of Ford performance that will deliver 12 new vehicles by 2020 - All-new Ford Performance All-Wheel Drive with Dynamic Torque Vectoring Control paired with a powerful 2.3-liter EcoBoost® four-cylinder engine will provide impressive performance - Aggressive, functional design inside and out makes Focus RS the most powerful production Focus ever, with highly capable performance on both road and track - Professional rally driver and star of Gymkhana films Ken Block teamed with Ford as a consultant on development of Focus RS Cologne, Germany, Feb.

Recharge Wrap-up: Ford's "snowtonomous" Fusion Hybrid, Porsche eyes battery makers

Bosch and Panasonic are vying to be the battery supplier for Porsche's electric sports car based on the Mission E concept. While Bosch's costs may be higher, its solution would offer simpler logistics. Panasonic is already well established as a battery maker, providing the packs for the Porsche car's rival, Tesla. "We're in the final stage of making a decision," says Porsche CEO Oliver Blume, declining to comment on specific manufacturers. Neither Bosch nor Panasonic provided comment. Read more from Automotive News. Renault will supply a fleet of 150 Renault Zoe EVs for a smart solar charging project in Utrecht, Netherlands. The project involves the installation of 1,000 EV chargers powered by 10,000 photovoltaic panels. The Renault Zoes would be used as part of a carsharing program powered by the solar chargers. Renault and its partners will also implement a vehicle-to-grid system to provide energy during peak demand from the solar chargers and connected EVs. Read more in the press release from Renault. Ford has been testing an autonomous Fusion Hybrid prototype that is capable of driving itself in snowy conditions. Ford uses 3D mapping to scan the drive route. Its LiDAR laser mapping can even detect single falling snowflakes. It collects and processes up to 600 gigabytes of data per hour, comparing its environment to saved maps, a process that helps establish location more precisely than GPS. In addition to the LiDAR systems, the car is also equipped with cameras and radar to help it navigate. Eventually, the car could even be able to clean off its sensors when it detects loss of performance from ice and dirt. Read more in the press release below. FROM AUTONOMY TO SNOWTONOMY: HOW FORD FUSION HYBRID AUTONOMOUS RESEARCH VEHICLE CAN NAVIGATE IN WINTER DEARBORN, Mich., March 10, 2016 – Driving in snow can be a slippery challenge, with the potential for one blizzardy gust to white-out your field of view – a situation faced by the majority of people in the United States. So if self-driving cars are to become a reality – and they almost certainly will – they must be able to navigate snow-covered roads. In its quest to bring self-driving vehicles to millions of people around the world, Ford reveals six facts about its technology that allows for a car to drive itself in snow. 1. Mapping the way: Ford first creates high-resolution 3D maps using LiDAR technology to scan the area its autonomous vehicle will later drive in the snow.