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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.

New Land Rover Defender aces Euro crash tests

While the 2020 Land Rover Defender has not yet been crash-test by U.S. safety agencies such as NHTSA or IIHS, we do now have results for Europe's NCAP crash tests and accident-avoidance tests, where the Defender earned the top rating of five stars. The Defender model used for NCAP testing was the 110 variant with right-hand drive. The NCAP regimen includes several different crash tests: an offset front crash test into a moveable barrier with both the vehicle and the barrier traveling at 50 km/hr (31 mph), a front crash test into a full-width fixed barrier at 50 km/hr (31 mph), a side-impact crash test with a barrier traveling at 60 km/hr (37 mph) hitting the driver's door, and a side-impact test where the car strikes a pole at 32 km/hr (20 mph). The Defender's scores for the adult occupant and for a child occupant were both 85%. Additionally, the agency looks at the severity of injuries of the vehicle striking a pedestrian, taking data for a pedestrian's head hitting the hood, and their upper and lower leg being hit by the front of the vehicle. There is also testing of the vehicle's automatic emergency braking system's ability to avoiding hitting a pedestrian and a cyclist under various scenarios. The efficacy of active-safety systems for avoiding collisions with other vehicles is also tested. The Defender's score for protecting pedestrians and cyclists was 71%. The driver assists scored 79%. Results for several European-market cars were released together with those for the Defender, the most noteworthy of which was for the Honda E. The electric city car fared less well than the big Land Rover, garnering a score of four stars overall. In the same battery of test, the Honda E scored 76% for adult occupant protection, 82% for a child occupant, 62% for protecting pedestrians and cyclists, and 65% for its driver assists. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Jaguar Land Rover reveals EV concepts, details green strategy

While it offers diesel models and even a couple hybrids, Jaguar Land Rover isn't quite as fleshed out on alternative powertrains as its luxurious German rivals. That should change pretty soon. JLR revealed three concepts at the CENEX Low Carbon Vehicle event in Millbrook, England, today. The Concept_e "research demonstrators" all use a new electric drive module, an EV system that the Indian-owned, British-based outfit claims will double the power and torque of today' electric motors. JLR says these modular EDMs can be paired with any of the company's engines or transmissions to create either a mild hybrid, a plug-in hybrid, or a pure EV. So yeah, this is kind of a big deal. Arguably the most exciting offering is a one-of-a-kind research vehicle. Riding on JLR's aluminium aluminum architecture, it ties together two electric motors – an 85-kW unit with a single-speed trans on the front axle and a 145-kW rear motor that's been mated to a two-speed transmission – with a 70-kWh li-ion battery that's mounted in the underbody of the car. There's also the Concept_e MHEV. This is a Range Rover Evoque that's been fitted with a mild hybrid system. Just a refresher, but a mild hybrid is very different than what's found in either a Chevrolet Volt or Toyota Prius, as it uses the electric motor and battery pack to simply assist the internal combustion engine, rather than for an electric driving mode. Reflecting that use, this particular Evoque uses a 15-kilowatt electric motor and a 48-volt, lithium-ion battery pack alongside a 90-metric-horsepower diesel-powered prototype. Finally, we have a Range Rover Sport-based plug-in hybrid. This brute uses a 300-metric-horsepower prototype gas engine and an eight-speed automatic alongside a 150-kilowatt electric motor. Energy is stored in a trunk-mounted, 320-volt, li-ion battery back. Partially funded by the British government, the EDMs are the result of a 16.3-million-pound ($25-million) research-and-development program. They're built in house by JLR, but were developed alongside 12 partners. While these concepts are exciting, don't get your hopes up to see a plug-in Jaguar XF or an all-electric Discovery Sport in your local dealer any time soon. "This is a long-term Jaguar Land Rover research project exploring all aspects of future hybrid and battery electric vehicle technology," JLR research and design boss Dr. Wolfgang Epple said in the attached statement.