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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 Land Rover releases a vintage-looking infotainment system for classics

Jaguar and Land Rover have a new option for owners of its older vehicles: a touchscreen infotainment system. Much like the Porsche classic infotainment head unit released a few years ago, this one tries to blend in with its interior surroundings. Five distinct designs of these "Classic Infotainment Systems" are offered in an effort to have an option that fits well with the interior of any particular car offered by Jag or Land Rover over the past few decades. Chrome and black options are available for Jaguars, while brushed aluminum and black are the choices for Land Rovers. The infotainment system has navigation with 2D or 3D maps and Bluetooth audio. Sure, you don't need to stream Spotify in a 1970s Land Rover, but now you can. Jaguar says it'll offer much higher quality sound with a 4 x 45 watt output from the single DIN head unit, but you might need to upgrade those ancient speakers to actually take advantage of it. There's no mention of satellite radio like Porsche's unit offers, unfortunately. It is a radio though, so we get both AM and FM functionality. Jaguar says it's "compatible with negative earth vehicles" (newer vehicles use negative grounding systems) and retails for $1,796 before taxes in the U.S. You can buy and have it professionally fitted at an "authorized" Jaguar or Land Rover dealer if you'd like as well. It's easy to shake your fist at such a device for classic cars, but this head unit tried hard to be an elegant piece — we're still not sure about slotting it into an old E-Type though... Here are U.S. specific model fitments: Jaguar XJ40; XJS; XJ Series 3 Sedan Land Rover Defender 90, 110; Range Rover Classic (93-96); Discovery 1 (94-98); Freelander (97-04) Related Video: Featured Gallery Jaguar Land Rover Classic Infotainment System News Source: Jaguar Jaguar Land Rover Technology Infotainment

Tata confirms JLR is looking at NA for new plant

Despite recent rumors to the contrary, Jaguar Land Rover is considering building a factory in North America, though not necessarily in the United States. The confirmation comes directly from former Tata Motors boss and still chairman emeritus Ratan Tata in a conversation with Automotive News. "The company is indeed looking at North America as a location for another plant. Where they locate that plant, in which country or which state they locate, is something they will need to decide," Tata said to AN. The magnate indicated that he wasn't taking part in the decision, though. Rumors of JLR's plans to open a factory in the US go back to at least to 2014. The automaker was reportedly looking to open a plant in the South to produce around 200,000 vehicles a year, and at the time, South Carolina was considered a possible location. However, later speculation made Georgia a likely contender, especially after the state's governor reportedly flew to the UK to pitch the company on the idea. Recently, the business had allegedly changed its mind and had turned the sights towards Austria or Turkey as potential alternatives. JLR is seemingly on a factory building binge at the moment. It opened a new engine plant in the UK late last year and its first manufacturing center in China at about the same time. The latest Land Rover Discovery Sport will also get assembled in Brazil for the local market. Related Video: Featured Gallery Land Rover Discovery Sport production at Halewood View 44 Photos News Source: Automotive News - sub. req.Image Credit: Jaguar Land Rover Plants/Manufacturing Jaguar Land Rover Luxury jaguar land rover