Steel Markets
August U.S. Auto Sales Show Strong Gains for Asian Manufacturers
Written by Sandy Williams
September 5, 2019
August U.S. auto sales, minus the non-reporting Detroit Big 3, grew 12.2 percent from a year ago. Sales were strong for Asian manufacturers with most reporting double digit gains.
Honda led the sales increase in August posting an 18 percent gain year-over-year. Nissan was next at 13 percent, followed by Hyundai at 12 percent and Toyota at 12 percent.
Edmunds estimates total deliveries may have jumped seven percent last month, helped by the Labor Day holiday and lower financing.
“Consumers continue to shake off the political and trade turbulence because the economy remains on solid, if somewhat slowing, footing,” said Jeff Schuster, president of global vehicle forecasts at LMC Automotive. “This foundation, combined with higher fleet volume in the first half of the year, will keep the industry above 17 million units for a fifth year in a row.”
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.