Steel Markets
Auto Sales Pace Softens in June
Written by Sandy Williams
July 4, 2016
Despite a 2.5 percent year-over-year increase in June, U.S. automotive sales were slower than the 4.0 percent expected by most analysts. WardsAuto reports sales totaled 1.5 million units last month but the seasonally adjusted annual rate was 16.6 million units, well below the 17.0 million in June 2015 and at the slowest sales pace of the past year.
The pace may have slowed but the automotive industry is still healthy and expected to exceed the 17 million plus SAAR predicted for this year.
“What we’re seeing in June car sales is what we’ve predicted for some time. The hefty year-over-year increases are narrowing, which is expected after this unprecedented long stretch of gains,” said AutoTrader.com analyst Michelle Krebs as quoted by the Detroit Free Press.
Truck sales, including CUVs, small vans, and SUVs, increased 6.7 percent in June. Within the segment large pickups gained 5.5 percent while small pickups surged 26.8 percent. Year-over-year sales of passenger cars fell 12.1 percent.
Ford and FCA sales increased 6.4 and 6.5 percent, respectively. General Motors sales dropped for the fifth consecutive month with June sales down 1.6 percent. Toyota sales also slipped last month, falling 5.6 percent.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
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).
Apparent steel supply rebounds in December, but 2024 total at 4-year low
Apparent US steel supply rebounded in December, but 2024 was still the lowest level for supply since 2020.
Trump officially orders sweeping 25% tariff on steel, aluminum
The new version of Section 232 goes into effect on 12:01 am ET on March 12, according to the executive order. The latest iteration of Section 232 removed quotas, exemptions, and other carve outs that had accumulated over years.
Tampa Steel Conference: Two weeks to go!
With just two weeks to go, we have over 400 registered so far for the 36th annual Tampa Steel Conference. Join us and hundreds of industry executives at the JW Marriott Tampa Water Street from Sunday, February 2, through Tuesday, February 4.