Steel Markets
Another Record Year for US Automakers
Written by Sandy Williams
January 5, 2017
US automakers set a new record for annual sales with a total of 17.465 million light vehicles in 2016, a 0.4 percent increase from 2015’s record year, according to WardsAuto.
Sales in December reached 1.68 million units as consumers were attracted by manufacturer discounts. Incentives of 10 percent off sticker price were offered in December said JD Power, an average of $3,542 per vehicle.
Manufacturers indicate 2016 may have been the peak year for sales and 2017, although strong, will be more moderate.
“Key economic indicators, especially consumer confidence, continue to reflect optimism about the U.S. economy and strong customer demand continues to drive a very healthy U.S. auto industry,” said Mustafa Mohatarem, GM’s chief economist. “We believe the U.S. auto industry remains well-positioned for sales to continue at or near record levels in 2017.”
Political uncertainty looms for the industry as President-elect Trump vows to punish US automakers with a 35 percent tariff for vehicles produced in Mexico and exported to the U.S. On the other hand, if infrastructure spending takes off as expected, pickup truck sales could increase.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
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.
Galvanized buyers see glimmers of optimism amidst the chaos
Reflecting on 2024 and looking ahead to the new year, galvanized steel buyers on this month’s HARDI call expressed a mix of cautious optimism with lingering uncertainties.
Construction spending steady in November
Construction spending inched higher in November for a second straight month.
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.