Steel Markets

April US Auto Sales Highest Since 2006

Written by Sandy Williams

US automotive sales finished April at a seasonally adjusted annual rate of 16.4 million. Sales were slightly below expectations but still the highest April sales level since 2006.

Sales volume for the month was at 1.448 million units, according to WardsAuto, a gain of 4.9 percent y/y. Light trucks and CUVs continued to lead sales as consumers enjoy low fuel prices and a favorable credit terms.

Sales of the new Ford F-150 were up 8 percent with plant change over and ramp up continuing.

General Motors announced it will invest $5.4 billion in plant improvements during the next three years. GM says the “investment translates to GM investing in U.S. operations about $5 million a day or $150 million every month for the next three year.”

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