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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.

Recharge Wrap-up: Tesla charging times compared, VW's 70s hybrid tech

A video shows the difference in Tesla Model S charging speeds with different chargers. The video compares the 60- and 80-kWh versions of the car using a Tesla Supercharger, a CHAdeMo fast charger and Tesla's High Power Wall Connector (HPWC). With the Supercharger, both models charge from to 80 percent in 44 minutes. It's over an hour and a quarter for both cars with the CHAdeMo, but they're about neck and neck in terms of time. The HPWC takes the longest, with the 60-kWh car finishing long before the 85-kWh version. See the video above, and read more at Teslarati. Volkswagen had prototype hybrid technology back in the 1970s. A book called The Complete Book of Electric Vehicles by Sheldon Shacket describes the technology used in Volkswagen's Hybrid-Electric City Taxi prototype, which was based on the Type II microbus. It used the automaker's 1.6-liter air-cooled flat-four (borrowed from the Beetle) along with a Bosch DC shunt electric motor and 11 lead-acid batteries. Interestingly, the hybrid taxi prototype also featured an electric sliding door and a bulletproof bulkhead separating the driver from the passengers. Read more at Jalopnik, and at Green Car Reports. Country music star Lee Brice is going on tour fueled by biodiesel. Partnering with nonprofit environmental organization Reverb, Brice is using the biofuel to travel to college campuses. "We're hoping to offset the environmental impact of the tour by supporting clean energy projects and using buses and trucks fueled with locally produced biodiesel," says Brice, who is personally focused on natural preservation and water conservation. Read more at Domestic Fuel, or at The Boot. Related Gallery Tesla Model S: Quick Spin View 33 Photos News Source: Teslarati, Jalopnik, Green Car Reports, Domestic Fuel, The BootImage Credit: Copyright 2015 Drew Phillips / AOL Celebrities Green Tesla Volkswagen Alternative Fuels Biodiesel Electric Hybrid Videos recharge wrapup

Next-gen Volkswagen Golf R spied while running the 'Ring

The launch of a new Volkswagen Golf is never a small thing, and things are already looking up for the subcompact hatchback after it was named 2013 World Car of the Year. While we've already seen the base and GTI versions of the next-generation Golf, now we're getting our first look at the sportier Golf R.
Although this prototype wears GTI lettering on the front fenders, it's more than just the roll cage and Sparco racing seat hinting that this is something a little more serious. Unlike the Golf and GTI, this car shows that the Golf R will continue to flaunt massive air intakes on each side of the fascia, and the rear of the car (though it's hard to see) has quadruple exhaust outlets. We still don't have an official word on power, but rumors indicate that the next Golf R could be pushing close to 300 horsepower, making it the most powerful production Golf ever. As much fun as we had during our first drive of the Golf R Cabriolet in the cold, snowy French Riviera last month, more power is a warming idea.