Steel Markets
July US Auto Sales Disappoint Big 3
Written by Sandy Williams
August 2, 2016
Auto sale volume for July was mixed, with the largest manufacturers slipping in volume year-over-year and most of the smaller ones gaining by single digit percent but still below analyst estimates. FCA US picked up just 0.3 percent over July 2015, while GM sales dipped 1.9 percent, Ford dropped 3 percent, and Toyota sales decreased 1.4 percent.
July was still a strong month for auto sales, just not at the record setting pace that the U.S. auto industry has become accustomed to. Analysts polled by Reuter expected sales for July to be between just under 1.5 million and 1.54 million vehicles. WardsAuto puts the final July sales tally at 1.514 million vehicles compared to 1.507 million a year ago. Year-to-date volume is 10.1 million, 1.1 percent of the same period in 2015, said WardsAuto.
According to WardsAuto and AutoData, the seasonally adjusted annual rate for July is 17.8 million, right between analyst estimates of 17.5 to 18.1 million, and an 8-month high for the SAAR. Auto manufacturers are still hoping that 2016 will surpass the 2015’s record of 17.38 million units.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
CRU: Sheet import demand softens as domestic price gains have slowed
US domestic sheet price gains have begun to slow as previously pulled-forward demand has led to a decline in orders.
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, […]