Steel Markets

US Auto Sales Exceed SAAR of 17M

Written by Sandy Williams

US automotive sales topped 1.58 million vehicles in March, an increase of 5.4 percent compared to August 2013 and the highest total since August 2003.

Sales on a seasonally adjusted annual rate rose to 17.45 million units, according to WardsAuto, beating analyst estimates of 16.6 million. It was the first time the seasonally adjusted annual rate exceeded the 17 million mark since 2006.

New vehicle launches, incentives and available credit drove sales for the month. Chrysler sales were up 20 percent year/year for their best sales in 12 years while Ford had its best August since 2006. Subaru boasted the best ever monthly sales in its history with a year over year increase of 22 percent.

Only General Motors and Volkswagen had declining sales for the month, down 1.2 percent and 12.8 percent, respectively. 

The breakdown of sales by manufacturer can be seen in the chart below.

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