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Junkyard Gem: 1993 Mercury Topaz GS Sedan

As long as the Mercury brand existed — a period spanning the 1939 through 2011 model years — nearly every Mercury sold in the United States was more or less a redecorated Ford model. The Torino had its Montego sibling, the Crown Victoria had the Grand Marquis, the Cougar was based on everything from the Mustang to the Mondeo, and so on. Naturally, when the folks in Dearborn developed the Ford Tempo compact, a Mercury version had to be created. This was the Topaz, with the official launch of both cars taking place on the deck of the aircraft carrier often referred to as the USS Decrepit. You can't make this stuff up! The Tempo/Topaz, also known as the Tempaz, has largely faded from our collective automotive memory by now, since it broke no significant new engineering or styling ground (this story would be much different if Ford had only put the amazing straight-eight "T-Drive" Tempaz powertrain into production) and didn't have any endearing features other than being a cheap domestic competitor to the Toyota Corolla and Nissan Sentra. Still, close to 3 million Tempazes left North American Ford and Lincoln-Mercury showrooms during the 1984-1994 period. As you'd expect, most of these disposable cars disappeared from both the street and the car graveyard long ago. It takes a very special Tempaz for me to break out my camera while I'm patrolling my local wrecking yards; generally, this means an ultra-rare all-wheel-drive version or at least a very early model in super-clean condition. Today's Junkyard Gem is neither, but I took one look at this spectacular Bordello Red crypto-velour-and-slippery-plastic interior and recognized that this was no ordinary junkyard Mercury. It appears that Mercury had dropped the idea of clever names for base-grade seat fabrics by the time of the Topaz, referring to this stuff as just "cloth" in all the brochures I could find. That's too bad, because Mercurys had cool names for upholstery (e.g., Chromatex) in the old days. The interior is in very good condition but the steering wheel shows substantial wear, so I think this is a high-mile Topaz that got meticulous care from its owner or owners. Ford used five-digit odometers on these cars until the end of production, however, so we'll never know if this reading indicates 65,404 miles or 365,404 miles. The body is very straight, but there's some nasty corrosion behind the right front wheelwell.

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 pulling out of V8 Supercars after 2015

Australian racing fans are staring down the end of an era as news breaks that Ford will no longer participate in the V8 Supercars series. Although the official announcement has yet to be made, the decision – as reported widely in the automotive press Down Under and in global motorsport publications – indicates that the Blue Oval automaker has already confirmed its intentions to its shareholders early on Monday to shut down its factory effort in the popular tin-top series at the end of next season. The move will mark the end of an era for what has become the International V8 Supercars Championship. Alongside GM's Holden division, Ford was one of only two manufacturers competing in the series from its inception in the late 1990s through last year when a change in regulations opened the door for entries from Nissan, Volvo and Mercedes. Further rule changes are expected to attract even more manufacturers to the series, with Lexus said to be first among them. Over the past eighteen seasons, the V8 Supercars Championship has been won in a Holden Commodore fourteen times, leaving Ford to win the title only four times with successive versions of the Falcon. Eleven of the cars on the grid this season were Commodores, compared to only seven Ford Falcons between two teams that will need to switch to another manufacturer for the season after next – although some could opt to stick with their Fords for one more season, even without factory support, until the open 2016 regulations take effect. The decision follows Ford's announcement last year that it will cease manufacturing in Australia by 2016, ending a 90-year presence Down Under that stretches back to 1925. Blue Oval models like the Falcon, previously unique to the Aussie market, are being replaced by imported models like the Mondeo and Mustang.