Steel Markets
Auto Sales Decline in June
Written by Sandy Williams
July 5, 2017
Auto sales took a dive in June with the top three American automakers reporting sliding sales and foreign automakers reporting mixed results. Ford Motor Co. sales fell 5.1 percent year-over-year, while GM sales slipped 4.7 percent. FCA USA sales plunged 7 percent, in part due to a planned reduction in sales to its rental operation.
In the foreign segment, Hyundai sales declined more than 19 percent and Mazda sales by 14.7 percent while Volkswagen and Subaru made gains of 15 percent and 11.7 percent, respectively.
Sales are expected to decline more than 2 percent for the month; Edmunds.com projects a drop of 2.3 percent and Kelley Blue Book 3.6 percent. Wards Auto predicts total sales for the month should come in at 1.46 million.
Honda, up 0.8 percent, described the automotive market in June as “catching its breath.”
“The auto industry has cooled off compared to last year’s record-breaking pace,” said Jack Hollis, group vice president and general manager, Toyota division.
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.