2014 Jaguar F-type on 2040-cars

Auto blog

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.

Stolen Jaguar Recovered Forty-Six Years Later

Forty-six years ago Ivan Schneider, successful Manhattan lawyer, bought himself the Jaguar convertible that would feature in a most unusual tale of unrequited love. It was the first (and "prettiest") of many luxury cars he would own, his companion on fast drives - and the only one that was ever stolen. Forty-six years later, a U.S. Customs and Border Patrol analyst running a routine export check through a stolen car database came up with a hit. The 1967 Jaguar XKE was hot. The problem: It was already on a cargo ship, in a container, headed for Europe, two days out of the Port of Long Beach on the Pacific Ocean. Investigators with the California Highway Patrol and nonprofit National Insurance Crime Bureau got to work. New York police still had the March 1968 incident report. CHP investigator Michael Maleta spoke with Schneider in Florida, where he now lives. Schneider thought it was a prank. "After we convinced him, he was excited," said Maleta. After all, Schneider told The Associated Press on Wednesday, he would think of the car every time he bought a new one. And, he said, he is a car guy who has owned quite a few exotics. For the months he owned it, he was in love. "I've always said that was the prettiest," Schneider, now 82, said. Tracing the car's history, Maleta learned the Southern California man exporting it to the Netherlands had bought it about three months ago from an owner in the San Joaquin Valley, who himself had it 40 years. What happened between its disappearance from the concrete canyons of the Upper East Side and its California sojourn - Maleta hopes his investigation will answer that. After its out-and-back sea journey to the Netherlands, the car is back in Southern California, more than two months after the law finally found it. It's rusty and scratched, but still worth about $24,000 - and far more if restored, as Schneider plans to do. He just won't push it too hard. It's old, so is he, and though beautiful it is known for trouble under the hood. "I'll use it as a Sunday car," Schneider said. "They were never reliable." At least, one day soon, it will be back home. Related Gallery 2014 Jaguar XJR Test Drive Weird Car News Jaguar stolen car

Jaguar C-X17 Concept teased before Frankfurt

Just ahead of the Frankfurt Motor Show, which begins September 10, Jaguar is teasing the reveal of a design study to introduce its new advanced vehicle architecture. Dubbed the C-X17, the mysterious concept "illustrates the diversity of vehicles that could be produced using this architecture, which underpins the innovative future of the Jaguar brand."
While it's not entirely clear what this architecture involves or what type of vehicle the C-X17 may be, this reveal is reminiscent of Jaguar's decision to unveil the C-X16 concept, a hybrid electric sports car, in Frankfurt in 2011. From the looks of the teaser image Jaguar released (click above to enlarge), we're guessing the C-X17 will be something between a low-slung crossover and a sporty wagon. But we won't have to wait too long to find out - Jaguar is streaming the live pre-show reveal to invited guests on its Facebook page on Monday, Sept. 9.
In addition to the C-X17, Jaguar be showing off the performance-oriented XJR and XFR-S, and, of course, the F-Type convertible. Scroll down for the official press release.