Economy
US Auto Sales Mixed in January
Written by Sandy Williams
February 4, 2014
US automotive sales were mixed in January with automakers blaming winter weather on slipping sales. January is typically a soft month for the industry and will likely not affect forecasts for 16-16.5 million light vehicle sales for 2014.
Ford Motor Co. reported sales fell 7.1 percent year-over-year to 155,644 vehicles. General Motors sales plunge 12 percent in January to 171,486 units. Sales for the two automakers were below analyst estimates.
Chrysler sales jumped 8 percent year-over-ear to 127,183 vehicles defying weather and producing the group’s best January sales since 2008. “The bad weather only seemed to affect our competitors’ stores,” said Reid Bigland, Head of U.S. Sales.
Toyota Motor Sales, USA cited weather conditions as a reason for the decrease in its January sales. Toyota sales fell 7.2 percent to 146,365 units.
Honda sales fell 2.1 percent to 91,631 vehicles from 93,626 a year ago. Sales of the Honda brand dropped by 4 percent in January, while Acura sales jumped 14 percent on the strength of demand for its MDX and RDX crossover vehicles.
Hyundai/Kia had a small gain of less than 1.0 percent with sales of 44,005 units for the month.
Nissan sales jumped 11.8 percent to 90,470 units due to strong demand for the Altima sedan and the Rogue compact crossover which accounted for 40 percent of January sale.
Volkswagen recorded another low month in January, falling 19 percent to 23,494 vehicles.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Metalformers expect steady conditions in coming months
Metalformers expect economic activity to stabilize over the next three months, according to the recently released July Business Conditions Report from the Precision Metalforming Association (PMA).
Architecture Billings Index rises from 4-year low in June
The Architecture Billings Index (ABI) ticked up in June following May’s four-year low, according to the American Institute of Architects (AIA) and Deltek. While the index improved this month, it continues to indicate weak business conditions among architecture firms.
Beige Book: Uncertainty to continue fueling slower economic growth
Growth in the US economy continues to be constrained. The Federal Reserve’s Beige Book report for July shows more areas reporting flat or declining economic activity than in its previous report at the end of May.
AISI, AISC, University of Massachusetts get ~$6.4M EPA grant
The American Iron and Steel Institute (AISI), American Institute of Steel Construction (AISC), and the University of Massachusetts at Amherst have received a grant to enhance emissions reporting for steel construction projects.
Manufacturing activity in New York state continues to soften
New York state saw a continued decline in manufacturing activity in July, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.