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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The first rule of Steel 101 is that you’re free to talk about Steel 101. We actually encourage it. Last week on Tuesday and Wednesday, SMU’s Steel 101 was held in Mt. Pleasant, S.C.
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