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Autoweek dubs GMC Canyon, VW GTI its 2015 'Best of the Best'

For kids around the globe, tis the season for Santa, reindeer and presents. For the automotive industry, the last quarter of each year is reserved for awards, whether they come from Motor Trend, Car and Driver, Automobile, or yes, Autoblog. The latest to get released comes from our friends at Autoweek. The magazine has echoed other outlets, naming a Volkswagen hatchback and a small pickup from General Motors as its Best of the Best. Unlike Motor Trend, which handed out its golden calipers to the Chevrolet Colorado and Volkswagen Golf range, Autoweek doled out its awards to the Colorado's twin, the GMC Canyon, while singling out the hottest version of the Golf, the GTI. "This is the best hot-hatch on the American market – and it may be the best car you can buy for less than $30K," one AW staffer said in the publication's article on the feature. Other staffers praised the absolute value provided by the GTI and the overall fun factor. The Canyon, meanwhile, was saluted for being "the perfect size," not to mention its excellent build quality, feature-rich cabin and overall practicality. "It's truly a truck in the most honest sense of the word," Autoweek wrote of the Canyon. Scroll down for the full press release on the announcement from Autoweek, which includes comments from both Volkswagen and GMC. And then head over and read AW's full feature on the awards. Autoweek names Best of the Best/Car and Truck for 2015 Volkswagen Golf GTI and GMC Canyon signal a strong year for design, performance and value DETROIT, Dec. 16, 2014 /PRNewswire/ -- Today, Autoweek named the Volkswagen Golf GTI as its Best of the Best/Car for 2015, beating a group of finalists that includes the Alfa Romeo 4C, Ford Mustang and Mercedes-Benz C-class; and the GMC Canyon as its Best of the Best/Truck for 2015, besting the likes of the Chevrolet Colorado, Lincoln MKC and Porsche Macan. Autoweek evaluates every new or significantly updated model throughout the year and begins to identify the standouts. Performance, economy, fit and finish, design, value, significance to the auto industry and personal taste all combine to define the Best of the Best. Four cars and four trucks make the grade, and Autoweek editors put them through rigorous road-handling tests at Michigan International Speedway in Brooklyn, Mich. This is where a vehicle transcends the numbers and shows if design, performance and pure driving passion meld into an Autoweek Best of the Best pick.

Skoda plans big investment into electric cars as part of rebound effort

PRAGUE — Czech carmaker Skoda, part of the Volkswagen Group, said on Wednesday it would invest around 2.5 billion euros over the next five years on future technologies, with more than half going to electric vehicle investment. The Czech Republic's largest exporter is hoping for a rebound in 2021 from a global car sales drop but faces uncertainty over the coronavirus pandemic and a semiconductor shortage rattling the industry. "This year is likely to be another big challenge," finance director Klaus-Dieter Schuermann said. "We expect Skoda Auto's group performance to improve, with sales revenue significantly above the level of last year." Skoda reported on Wednesday a 54.5% drop in 2020 operating to 756 million euros ($894 million). Sales revenue dropped 13.8% to 17.1 billion euros. Global deliveries remained above 1 million cars for a seventh straight year despite a 19% drop after production outages at the outset of the pandemic and a fall in China, its biggest single market. Chief Executive Thomas Shaefer said the car company was managing the semiconductor shortage "but it will follow us for awhile" and the impact was not visible yet. Skoda's core market in Europe would be electric in the future, Shaefer said, although it was still not time to completely switch away from traditional models, which include the launch last year of a new generation of its flagship Octavia model. It has also started production of the all-electric Enyaq iV model, which is a version of Volkswagen's ID.4. Skoda plans investments of 1.4 billion euros into electromobility development as part of its five-year investment plan. Investments will also go into digitalization activities and plant modernization. Related video: Green Volkswagen Skoda Electric

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.