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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.

Here are 12 electric pickups in the works

With the unveiling of the GMC Hummer EV, the list of planned electric pickups is expanding. Legacy automakers like Ford and Chevy have theirs coming, as do startups like Tesla, Rivian and Bollinger, as well as some lesser known brands. Here are all the electric pickup trucks we know to be in the works, along with a few that are being discussed or mulled over. GMC Hummer EV The 2022 GMC HUMMER EV is a first-of-its kind supertruck develop View 40 Photos We’ve seen it now, and itÂ’s the business. The GMC Hummer EV comes out swinging with 1,000 horsepower from GMÂ’s new Ultium electric powertrain program, a wealth of off-road features, a removable roof, Super Cruise and the revival of the Hummer name. WeÂ’ll see the first ones on the road next fall. Tesla Cybertruck Tesla Cybertruck at the Petersen Museum View 14 Photos Tesla revealed the Cybertruck last year with, ahem, unique styling, a number of powertrain options and a claimed range of up to 500 miles. It has a compressed paper dash, a ramp for the bed, and “shatterproof” windows. It has already racked up hundreds of thousands of reservations. It will be built in Texas. Rivian R1T 2021 Rivian R1T View 15 Photos EV startup Rivian revealed its R1T electric pickup toward the end of 2018 with a claimed 0-60 time of 3 seconds and a towing capability of 11,000 pounds. Preproduction began in September 2020 at RivianÂ’s factory in Normal, Illinois. Bollinger Motors B2 Bollinger Motors B2 side outdoors View 31 Photos BollingerÂ’s B2 electric pickup is a Class 3 off-roader with retro styling, removable roof panels, and a unique “frunkgate” with a pass-through down the center of the vehicle. It was created with both enthusiasts and workers in mind, with features that can get it to remote places (portal axles, hydro-pneumatic suspension) and to get things done (room for 40 2x4s, equipped with eight 110-volt outlets and one 220-volt outlet). Bollinger also plans to make the B2 Chassis Cab available for fleet customization. Ford F-150 Electric Electric Ford F-150 Towing View 9 Photos WeÂ’ve known this to be in the works since early 2019. Since then, details have trickled out. Back in June, Ford announced its F-150 Electric would be coming within two years. WeÂ’ve seen it pull a million pounds worth of train and trucks, heard it will have more power than any other F-150, and seen its LED-laden front end.

Ford decides C-Max shoppers not interested in fuel economy

If you say a car – the Ford C-Max Hybrid, for example – is "fun to drive," can anyone really come up with some empirical evidence against your claim? What about calling it "versatile"? We wonder if Ford has been thinking along these lines when it talks about the green little hatch. Ford is refocusing its sales strategy for the C-Max Hybrid after the model took a sales hit on both sides of the Atlantic recently, Automotive News reports. That sales dropoff may stem from the fact that Ford has had to revise its fuel-economy figures downward for the C-Max twice since last year, most recently in June. That made the company's once-proud fuel-economy comparisons with the Toyota Prius kind of pointless. Ford is going a different route, calling the model versatile (which, to be fair it was also doing a year ago), technologically advanced and fun to drive. Since the C-Max has about 50 more horsepower than the Prius, that last part may be true. Ford representatives didn't immediately respond to a request for comment from AutoblogGreen about the mpg-mention-free advertising direction, but we will update this post if we hear back. Sales of the C-Max Hybrid have suffered in the US. Through September, Ford sold 15,245 C-Max Hybrids, down 36 percent from last year. We shall see if a new focus away from the car's lowered mpg numbers helps. At least Ford can be pleased with sales of the C-Max Energi Plug-in Hybrid, which are up 51 percent compared to 2013.