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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 F-Type Project 7 arrives Stateside for $135k*

There are a great many things we love about the Jaguar F-Type, but one of them is that, whatever price point you're looking at, there's an F-Type for you. (Well, not any price point... this is a Jag we're talking about, but pricing varies greatly.) Got $65k to spend? That'll get you into a base F-Type V6 coupe, and you'll likely be happy for it. Eighty grand will get you into an F-Type V6 S, $90k into a V8 S roadster, and a cool hundred grand will get you the top-of-the-line F-Type R coupe. But what if you want to spend more than that? What if you've got more like $165,000 in your pocket and it's burning a hole when it should be burning rubber?
Well we've got good news for you, friend, because that's exactly how much the exclusive F-Type Project 7 will set you back. Making its US debut during Monterey car week, Jaguar has announced that the most exclusive version of its two-seat sports car - revealed in production spec just recently at the Goodwood Festival of Speed - will cost $165k in the US (plus the standard $925 delivery charge). That's roughly the price of an F-Type R and a base F-Type V6.
For all that scratch, you get an open-top roadster with 575 horsepower on tap - more than any production road car Jaguar has ever made before, and that includes the XJ220 and ultra-rare XJR-15 supercars. The most potent version yet of Jaguar's ubiquitous and long-serving 5.0-liter supercharged V8 is enough to send Project 7 to 60 in 3.8 seconds and on to an electronically limited top speed of 186 miles per hour.

Jaguar riffs on Super Bowl ad with new F-Type Coupe web short

Continuing the story of black hearts it began with its first Super Bowl commercial, Jaguar is roaring down the dark and oh-so-magnificently appealing road of villainy with a new spot featuring Tom Hiddleston. Using its new F-Type Coupe to demonstrate, the actor explains the salient features of the best - meaning, English - villains.
However, it's likely that even if you could manage the elegance, the tailored suit, the sharp wit and the distinct sound, you couldn't pull it all off nearly as well as Hiddleston. That doesn't mean you can't try, of course. Might we suggest starting with his excellent lesson in being properly villainous in the video below?