Steel Markets
Trucks and SUVs Drive January Auto Sales
Written by Sandy Williams
February 3, 2015
January auto sales set monthly records for automotive manufacturers. The Detroit big three made double digit gains for the month as did the top three Japanese manufacturers.
Light trucks and SUVs led the stellar sales for the month. Ford’s F-series pickup had the best January sales volume since 2004. A CNBC analyst said, “F-150 has been flying off the shelves. The average time from delivery to the showroom to sale to a customer is 8 days.”
Pickup deliveries increased 42 percent year over year at GM. “Consumers feel very good because more people are working, the U.S. economy is expanding and fuel prices are low,” said Kurt McNeil, U.S. vice president of Sales Operations at GM.
Low fuel prices and a stronger economy are encouraging consumers to trade up. January sales are expected to total nearly 1.15 million. Industry analysts are forecasting sales in 2015 to reach 17 million, compared to 16.52 million in 2014.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Steel export volumes remain weak through July
Following a 3% decline in June, the amount of steel shipped outside of the US edged up 1% in July to 623,000 short tons. July was the sixth-lowest monthly export rate since the COVID-19 pandemic, and...
Hot-rolled market participants say ‘doldrums’ to roll on through year-end
Participants in the hot-rolled steel sheet market expect the market to remain subdued through the end of the year.
Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
Great Lakes iron ore shipments declined in August
Shipments of iron ore across the Great Lakes dropped to 5 million short tons (st) in August, according to the latest data from the Lake Carriers’ Association. That’s down 9.1% compared to August 2024 and 2% lower than the month’s 5-year average. All told, the year-to-date (YTD) iron ore volumes through August totaled 26.7 million […]
SMU Week in Review: September 1-5
Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on.