Steel Markets

Auto Sales Recover from Slow Start

Written by Sandy Williams

Automotive sales were encouraging in April, with most auto manufacturers posting positive gains year over year. WardsAuto reports sales totaled 1.37 million units compared to 1.18 million in April 2013. Sales reached a seasonally adjusted annual rate (SAAR) of 16.0 million for the second consecutive month.

Consumers demand is supported by low interest rates and leasing deals as well as a slew of new models introduced for 2014.

The massive recall at GM failed to dampen sales in April. General Motors posted a 7 percent gain year-over-year, taking an 18 percent share of the market.

Ford sales fall 1 percent below April 2013 levels, hurt by lower industry fleet orders and weaker demand on passenger cars and light trucks. Volkswagen US sales were down 8.4 percent for the month bringing its year to date total 10.4 percent below sales for the first four months of 2013.

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