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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.

Forza Horizon 3 car list keeps on truckin'

We've covered three weeks of car reveals for Forza Horizon 3, and this time we get a better look at the trucks, SUVs and other off-roaders you'll be able to use to explore Australia. This week's list kicks things off with two of the most legendary off-roaders in the world, the Toyota FJ40 Land Cruiser and the Meyers Manx. They have different purposes; the FJ40 is for tough trail work and the Manx is for some light-hearted beach fun. But no one could deny the cultural importance of either. And both should be a blast in Horizon 3. In addition to this pair of classics, players will have a chance to get behind the wheel of both a race version of the Ford F-150 Raptor and its closest rival, the Ram Runner. And when traditional vehicles start to get boring, why not take out a full-blown Baja racer such as the Penhall Cholla or the Rockstar energy drink version of the little Polaris RZR XP 1000 side-by-side? Forza Horizon 3 is shaping up to have one of the most diverse car lists in a racing game in a long time. There are still cars left to be revealed, so stay tuned for further installments and see this week's full list below. 1957 Chevrolet Bel Air 2002 Ferrari 575M Maranello 1992 Ford Escort RS Cosworth 2013 Ford Focus ST 1973 Ford Escort RS1600 1971 Ford Falcon XY GTHO Phase III 2014 Ford Fiesta ST 2017 Ford F-150 Raptor Race Truck 1954 Jaguar XK120 SE 2014 Jeep Grand Cherokee SRT 2012 Lamborghini Aventador LP700-4 1986 Lancia Delta S4 2009 Lexus IS F 1957 Maserati 300 S 1994 Mazda MX-5 Miata 1967 Mercedes-Benz 280 SL 2009 Mercedes-Benz SL 65 AMG Black Series 1971 Meyers Manx 2012 Mini John Cooper Works GP 1998 Nissan R390 1979 Opel Kadett C GT/E 2011 Penhall The Cholla 1971 Plymouth Cuda 426 Hemi 2015 Polaris RZR XP 1000 EPS Rockstar Edition 2013 Ram Runner 1993 Renault Clio Williams 1990 Subaru SVX 1979 Toyota FJ40 2005 TVR Sagaris 1990 Vauxhall Lotus Carlton Related Video: News Source: Playground Games / MicrosoftImage Credit: Playground Games / Microsoft Auto News Toys/Games Ford RAM Toyota forza exclusive ford f-150 raptor forza horizon forza horizon 3 toyota fj40 meyers manx

Ford GT to be revived, Le Mans battle upcoming

Ford dominated the 24 Hours of Le Mans from 1966 to 1969, scoring four consecutive wins. Wouldn't it be great if the Blue Oval could go back to France for the 50th anniversary of that performance and show it can still compete in international endurance racing? Actually, the latest rumors indicate that could be exactly the case, and the car taking that checkered flag could be another revival of the Ford GT.
As the rumblings go, Ford wants to use a new supercar to take another crack at Le Mans, after considering some other possible alternatives. Substantiating these musings are reports that a Blue Oval rep was reportedly on hand for a recent meeting about 2016 GTE-Class rules, according to Road and Track. That would put the new GT in the same racing class as the Corvette, Ferrari 458 Italia, Porsche 911 and others.
It's not all about racing, though. If you win on Sunday, you want something to be able to sell on Monday. The revived GT is reportedly still a mid-engine supercar, but the exact engine is unclear. It's possible that it could even be shown or announced at the Detroit auto show in January, according to Motor Trend.