Steel Markets

Trucks and SUVs Drive January Auto Sales

February 3, 2015

January auto sales set monthly records for automotive manufacturers. The Detroit big three made double digit gains for the month as did the top three Japanese manufacturers.

Light trucks and SUVs led the stellar sales for the month. Ford’s F-series pickup had the best January sales volume since 2004. A CNBC analyst said, “F-150 has been flying off the shelves. The average time from delivery to the showroom to sale to a customer is 8 days.”

Pickup deliveries increased 42 percent year over year at GM. “Consumers feel very good because more people are working, the U.S. economy is expanding and fuel prices are low,” said Kurt McNeil, U.S. vice president of Sales Operations at GM.

Low fuel prices and a stronger economy are encouraging consumers to trade up. January sales are expected to total nearly 1.15 million. Industry analysts are forecasting sales in 2015 to reach 17 million, compared to 16.52 million in 2014.