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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.

Jaguar I-Pace eTrophy: New EV, new series — Jaguar's going racing

Luxury carmaker Jaguar is teasing the 2018 launch of a five-seat electric sports car based on its I-Pace concept as its first battery-electric vehicle. The Indian-owned automaker released images of the sports car as part of its announcement that it will launch the world's first international production EV race series in 2018. A performance SUV version of the I-Pace, previously reported and presumably based on a concept revealed late last year, is also planned for late 2018. Jaguar has said it plans to electrify all new models after 2020, part of a wave of similar announcements as governments in England, China and elsewhere have announced plans to eventually ban the sale of gasoline or diesel cars. In its announcement, Jaguar said only that the race series would "support the launch" of the I-Pace five-seater. View 7 Photos At the Los Angeles auto show last year, Jaguar said its concept I-Pace crossover SUV would have a 220-mile range from its 90-kilowatt-hour lithium-ion battery pack, designed and engineered entirely in-house. The Jaguar I-Pace eTrophy series is a support series for the FIA Formula E championship and will exclusively feature up to 20 all-electric Jaguar I-Pace racecars across 10 races in cities including Hong Kong, Paris, Sao Paolo and New York. The racecars will be built at the Jaguar Land Rover Special Vehicle Operations in Warwickshire, England. "With the launch of the Jaguar I-PACE eTROPHY, we have strengthened our commitment to battery electric vehicles, international motorsport and Formula E," Gerd Mauser, chairman of Jaguar Racing, said in a statement. "As a British team, we are proud to announce today the launch of the world's first production battery electric vehicle championship." He added: "Ultimately this innovative series will enhance the technology in our future electric vehicles and benefit our customers." Jaguar says it will release technical specifications, race calendar and costs for the I-Pace eTrophy in 2018. Related Video: Green Frankfurt Motor Show Jaguar Electric Racing Vehicles Performance Sedan Frankfurt 2017 jaguar i-pace

2018 Jaguar F-Pace long-term test introduction

We just spent six months driving around Jaguar's XE in diesel trim, a fun, frugal sports sedan that impressed all of us. But we know that diesel sedans are a pretty slim part of the market, so we decided to check out the other side of Jaguar's coin. For the next six months, we'll be driving a 2018 Jaguar F-Pace. In today's SUV and crossover obsessed world, the F-Pace is already the brand's best seller, and if history and the Porsche Cayenne is any indication, it'll hopefully help finance the sort of lust-worthy but low-volume cars we all love so much. In the meantime, we'll be finding out what all those new Jag owners are getting themselves into. What we got Our particular F-Pace is very close to fully loaded. Outside, it's coated in deep, vibrant Caesium Blue, a hue that was originally intended only for the F-Pace First Edition but popular demand made it more widely available. It's accented with the "Black Package," a $360 option, which swaps out shiny chrome trim on the grille, window surround and fender vents for gloss black pieces. We also added gloss black 20-inch wheels to match, a $1,020 option. For $410, we added a fifth one of those wheels in the trunk, too, since we opted for a full-size spare. Our F-Pace's sporty appearance is complemented by an athletic engine. The F-Pace S (starting price $60,770) comes with the most powerful engine currently available, a 3.0-liter supercharged V6 good for 380 horsepower and 332 pound-feet of torque. Like all F-Pace models, all-wheel drive and an 8-speed automatic transmission are standard. Also, because this is the S model, our F-Pace has the ability to store a custom configuration for the steering and suspension. Most of the options on our F-Pace are convenience items such as the $1,840 "Comfort and Convenience Package" that adds heated and cooled front seats, heated and power-reclining rear seats, remote levers for folding those seats, and a powered, hands-free-opening hatch. The $2,350 "Luxury Interior Package" adds configurable ambient lighting, four-zone climate control, a lockable and cooled glovebox, an air quality sensor, a pair of 12V power sockets in the rear, illuminated door sill plates, a suedecloth headliner and fancier floor mats. The "Driver Assistance Package" and "Technology Package" each cost $3,250 and provided us with Jaguar's top-of-the-line Touch Pro infotainment system, Wi-Fi, a Meridian sound system, navigation, parking sensors, 360-degree cameras, and adaptive cruise control.