Steel Markets
Harvey Hits Auto Sales in August
Written by Sandy Williams
September 7, 2017
U.S. automakers sold 1.48 million vehicles in August, a 1.9 percent drop from a year ago. A portion of that decline was the loss of an estimated 20,000 sales from the Houston area during the last week of August.
Houston is the ninth-largest vehicle market in the U.S., and sales are expected to rebound as consumers replace autos damaged in Hurricane Harvey. Kelly Blue Book estimates as many as 300,000 to 400,000 vehicles will need to be replaced. Some dealerships in the Houston area escaped damage, while others report total loss of inventory.
The seasonally adjusted annual rate was estimated at 16 million units by WardsAuto, significantly below the 16.5 million SAAR forecast. The storm impact is likely to keep the industry from reaching the 17 million mark that it surpassed in 2015 and 2016.
Of the Detroit Three automakers, only General Motors’ sales grew year-over-year, up 7.5 percent. Toyota turned in its third consecutive gain in August.
Car sales slipped 13.1 percent from August 2016, while truck sales dipped 1.1 percent for the first decline since last November.
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.