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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.

Ford Raptor or Corvette-powered Defender, which would you choose?

Autoblog may receive a share from purchases made via links on this page. Pricing and availability are subject to change. No donation or payment necessary to enter or win this sweepstakes. See official rules on Omaze.  Enter this sweepstakes today and get 150 bonus entries by signing up for the Autoblog Newsletter right here! Going around a track at breakneck speeds is exhilarating, but I much prefer leaving the asphalt behind and hitting the trail, which is why my dream garage is filled with vehicles like Land Cruisers, Broncos, Jeeps, Rams and even a lifted Subaru or two. Not to mention the two vehicles pictured above, the Ford F-150 Raptor and the Land Rover Defender. If either of these are in your dream garage, you’re in luck, because Omaze just happens to be giving away both, right now. All you have to do is enter here for the Raptor and here for the Defender. Win a Ford F-150 Raptor or a Himalaya Land Rover Defender - Enter Here Here is a side-by-side of the specs, according to Omaze: Vehicle: Himalaya Defender 110 Crew Cab / 2022 Ford F-150 Raptor 37 Maximum Seating: Four / Five Engine: 6.2-liter Corvette LS3 / 3.5L V6 EcoBoost Maximum Horsepower: 430 hp / 450 hp Maximum Torque: 425 lb-ft / 510 lb-ft Transmission: 6-speed automatic / 10-speed automatic Drivetrain: 4WD / 4WD Exterior Color: Satin Grey / Lead Foot Grey Interior Color: Jet Black / Rhapsody Blue Approximate Retail Value: $210,000 / $83,525 Defender special features: Black exterior roll bars and trim; Black 18” Sawtooth wheels with 35” tires; Wilwood brakes; 3" lift; Black diamond-stitched leather sport seats; MOMO Millenium steering wheel; front and rear matching consoles; Himalaya gauge cluster; Himalaya front and rear bumpers, bed-mounted tire carrier, and extended fender flares; Puma hood; LED lighting. F-150 Raptor special features: 0 to 60 mph in 5.1 seconds, 15 city / 18 highway miles per gallon fuel economy, Extended Range 36 Gallon Fuel Tank, 8,200-lb towing capacity, 17” beadlock-capable forged wheels, 37”x12.50 tires; Twin Panel Moonroof; Recaro Front-Seats; B&O Sound System; Fox Racing Shocks. Exterior Looks - Winner: Himalaya Land Rover Defender ThereÂ’s just something about the Defender. ItÂ’s rugged, yet handsome. ItÂ’s got classic appeal yet feels modern. It also has style while appearing to be as strong as a tank.

Jaguar Land Rover might buy another luxury brand that it doesn't need

It seems that Jaguar Land Rover may be getting bigger in the near future. According to Bloomberg, the company is looking at acquiring some tech companies, and possibly yet another luxury car brand, provided that it fits with the current lineup of cars. On the surface, this makes some sense since Bloomberg reports that a whopping 78 percent of Tata Motors' revenue comes from luxury brands. And of course, any kind of tech acquisition could be useful considering the rapid development of electric and autonomous vehicles. But dig a little deeper, and a possible luxury brand acquisition just doesn't make sense for Jaguar Land Rover. The main reason for this is that the Jaguar and Land Rover brands have the luxury market thoroughly covered. Both brands offer full luxury lines from entry-level to high-end ( Discovery Sport to Range Rover on the Land Rover side, and XE to XJ on the Jaguar side). They also cater to every kind of luxury, from sporty vehicles such as the F-Type and SVR Land Rovers, to cushy luxury machines such as the XJ and Range Rover. So whether the company is competing with BMW or Mercedes, Jaguar and Land Rover have the bases covered. There aren't any other typical luxury brands that would actually add anything to the current lineup. In fact, adding another conventional luxury brand could actually result in the new brand poaching existing Jaguar and Land Rover buyers, rather than picking up new ones. What would make more sense for Jaguar Land Rover would be to pick up either a more mainstream brand, or an ultra-luxury marque. Neither Jaguar nor Land Rover has something that competes directly with the likes of Ford or Toyota in the mainstream game, or Rolls-Royce or Bentley at the top of the luxury heap. Picking up a brand in one of these segments would allow JLR and Tata Motors to actually expand offerings and pick up more sales, rather than having an internal competitor. What path would be ideal? Probably going even farther upmarket. Supercar makers and ultra-luxury brands continue to sell well, and there's the potential for significant profit by layering on features and content to existing platforms. Perhaps the best possibility for a high-end complement to Jaguar Land Rover would be Aston Martin. Not only does it have a strong reputation and line-up, it also could handle both supercars and luxury sedans, thanks to its Lagonda sub brand. Of course it would require Aston Martin to be receptive to a purchase.