• Skip to main content

    Analysis

    May 20, 2014

    US Vehicle Sales and NAFTA Vehicle Production in April 2014

    Written by Peter Wright

    Light vehicle sales in the US declined to an annual rate of 16 million units in April following March’s torrid pace of 16.4 million. Even so, April was third only to November 2013 and March 2014 in the last eight months. Light vehicles are cars and light trucks (GVW Classes 1-3, under 14,001 lbs.). The increase in light truck sales continues to outpace autos partly a result of demand from contractors.

    The mix was 8.5 million and 7.5 million for light trucks and autos respectively in April. The light truck share of sales exceeded 53 percent for the first time since mid-2011. Moody’s reported in Economy.com: “Sales growth is expected to accelerate throughout the remainder of the year and reach 17 million units SAAR by the end of the year. Sales will climb even higher in 2015 before receding to a more sustainable pace below 16 million units.”

    Peter Wright

    Read more from Peter Wright

    Latest in Analysis

    Market chatter: Supply, not price, dominates steel buyers’ concerns

    On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events. We are sharing a selection of the comments we received below, in each buyer’s own words. Before diving in, we reviewed all the responses collected and compiled these key takeaways: Respondents overwhelmingly anticipate further increases. Buyers cite limited supply, mill delays, low inventories, and steady-to-strong demand. Most say demand is generally stable to improving, with some purchasing driven by fears of higher prices or unavailable material rather than stronger underlying consumption. Most respondents report faster inventory turnover, while shortages are constraining sales and, in some cases, prompting customer allocations. Buyers increasingly see imports as a way to secure scarce material, though domestic-origin requirements, delivery timing, and pricing risks remain obstacles.

    Sheet prices surge as ’26 market squeeze spills into ’27

    Sheet prices soared this week as market participants increasingly predict that the strong market characterizing 2026 will stretch well into 2027. And with extremely limited spot availability, mills that have spot tons to sell are charging a significant premium, they said. The result: Sheet prices saw their highest week-over-week gains since March 2025, according to SMU's pricing records. That's when President Trump shocked the market by expanding Section 232 tariffs to cover traditional US allies such as Canada, Mexico, and the EU.

    Ferrous scrap prices seen rising in November

    Most SMU scrap sources are predicting a stronger scrap market for November. The increase in prices is generally thought be $20-30 per gross ton (gt) in most districts. However, there are differences of opinion about the upcoming price settlements. SMU spoke with a trading source in the Great Lakes region who told us mills in the Eastern Ohio and Western Pennsylvania regions are short on scrap. At least one buyer is offering to buy scrap at a $30/gt increase from October levels. He said most dealers have elected to wait to see where things settle before making commitments.