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
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.
HVAC shipments slip in September but are still trending higher
Following a strong August, total heating and cooling equipment shipments eased in September to a five-month low, according to the latest data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).
GrafTech Q3 loss widens as electrode demand remains soft
GrafTech International’s third-quarter net loss increased from last year, with the company anticipating continuing weakness in near-term demand for graphite electrodes.
Cliffs forecasts 2025 rebound after Q3’s weakest demand since Covid
The negative impact of high interest rates on consumer behavior, particularly in the automotive and housing sectors, was the primary driver of the demand weakness seen across the third quarter, according to Cleveland-Cliffs executives.