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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.

Xcar experiences the 2015 Mille Miglia from a Jaguar C-Type

Xcar Films has returned to the Mille Miglia this year for another trip from Brescia to Rome and back. However, unlike the last survey of the historic rally from the comfy seat of a Jaguar F-Type, it did things properly in 2015 with a first-person look at the entire event from a somewhat temperamental Jaguar C-Type. As you'd expect, you get to check out 1,000 miles of beautiful Italian roads and similarly gorgeous vintage sports cars, but the reporting here is great, too. Alex Goy alternates between navigating and learning to drive the C-Type with its tricky gearbox over the four-day rally, and he narrates the entire video, as well. From what we can tell, participating in the Mille Miglia is essentially a license to break every law of the road imaginable. The police not only allow this to happen; they encourage it. Goy does a fantastic job of giving viewers an idea of what's it like to take part in the historic event. Being in a 50-year-old racecar for that long looks absolutely exhausting but also completely worth it.

Jaguar C-X17 resurfaces in China with gold finish, five-seat cabin [w/video]

Some concept cars make the rounds of the auto shows and are then retired. But a number of automakers are showing that a fresh coat of paint can go a long way towards rejuvenating a show car and giving it a new lease on life - at least as far as the auto show circuit is concerned. Lexus did that recently with the LF-LC concept, initially unveiling it in red at the 2012 Detroit Auto Show, then repainting it a dark shade of blue for the subsequent shows in Australia and LA. Mini did the same with the Rocketman concept. And now Jaguar has done it again with its C-X17.
Initially unveiled in electric blue at the Frankfurt Motor Show, Jaguar then rolled the crossover out again in liquid silver for the Dubai Motor Show earlier this month. Now the concept is back again at the Guangzhou Motor Show in China with a fresh coat of rose gold.
Looking decidedly more luxurious than the previous iterations, this gilded C-X17 concept also bears another change: while the previous versions featured a four-seat cabin, this one has been redone with a more conventional five-seat configuration that more buyers would likely go for. It's also got a new interactive infotainment system and another system that warns passengers of pedestrians or cyclists approaching from the rear before they open the door. Check it out in the high-res image gallery above and the video clip below for a closer look.