Steel Markets
Automakers Deliver Strong February Sales
Written by Sandy Williams
March 1, 2016
Automotive sales for February are expected to increase as much as 8 percent year over year for the highest February volume in 15 years. GM estimates the seasonally adjusted annual rate will be 17.7 million units while WardsAuto predicts 17.5 million.
Most automakers are posting positive gains for February sales. GM sales slipped 1.5 percent last month due to a planned reduction in rental deliveries, but GM is confident about the 2016 market. The company is counting on growing sales from Millennials (under age 34) who account for 20 percent of GM sales.
“We continue to be optimistic about the continued strength of the U.S. economy,” says GM Chief Economist Mustafa Mohatarem. “Employment remains strong, interest rates remain at historically low levels and gas prices are stable, so we expect auto sales to remain strong for the foreseeable future.”
Volkswagen sales continue to lag, down 13.18 percent year over year. Individual records were set, however, for some models such as the crossover Tiguan and e-Golf.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Steady architecture billings signal improving conditions
The November ABI decreased month over month but was still the third-highest reading of the past two years.
Fitch warns more tariffs will pressure global commodity markets
“New commodity-specific tariffs, mainly on steel and aluminum products, could widen price differentials and divert trade flows,” the credit agency forewarned.
Slowing data center, warehouse planning drives decline in Dodge index
The Dodge Momentum Index (DMI) slid further in November as planning for data centers and warehouses continued to decline.
Latin America’s steel industry grapples with declining demand, rising imports
With climbing imports and falling consumption, the Latin American steel industry has had a challenging 2024, according to an Alacero report.
CRU: Trump tariffs could stimulate steel demand
Now that the dust has settled from the US election, as have the immediate reactions in the equity, bond, and commodity markets, this is a prime opportunity to look at how a second Trump presidency might affect the US steel market.