Steel Markets
Trucks and SUVs Drive January Auto Sales
Written by Sandy Williams
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.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
CMC looks beyond Arizona micro-mill woes to long-term viability of construction mart
Despite the economic and geopolitical upheaval of the last five years, CMC President and CEO Peter Matt points out that the construction market has been an essential element of the way forward.
US importers face stricter rules under revamped S232 tariffs
“CBP expects full compliance from the trade community for accurate reporting and payment of the additional duties. CBP will take enforcement action on non-compliance," the agency said in a March 7 bulletin.
Steel exports rebound in January
US steel exports recovered to a five-month high in January after having fallen to a two-year low in December. This growth follows four consecutive months of declining exports.
Construction spending drops marginally in January
Construction spending edged down slightly in January, slipping for the first time in four months. The US Census Bureau estimated spending at a seasonally adjusted annual rate of $2,196 billion in January, down 0.2% from December’s downward revised rate. The January figure is 3.3% higher than a year ago. January’s result, despite the slight erosion, […]
HVAC equipment shipments slow in December but strong annually
Shipments of heating and cooling equipment in the US fell to an 11-month low in December, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).