US automotive sales had another stellar month in July beating analyst expectations as consumers continued to buy trucks and SUVs. Sales for July rose 5.3 percent year over year to 1.51 million vehicles.
Continued low gas prices helped place SUVs and crossover vehicles into more consumer garages in July. Luxury vehicles also were in high demand, with luxury brands making up 11.5 percent of sales so far in 2015, according to True Car.
“The second half of 2015 is off to a great start, with industry sales above expectations,” said Kurt McNeil, GM’s U.S. vice president of Sales Operations. “We feel very good about our truck strategy heading into the late summer and fall, when those segments usually heat up.”
“F-Series retail sales are up 13 percent, providing the best July retail results since 2006, even with continued all-time record transaction pricing – up $3,200 versus a year ago,” commented Ford Motor Company.
Sandy WilliamsRead more from Sandy Williams
Latest in Steel Markets
Canada adds ‘melt-and-pour’ requirement for steel imports
Canada will soon require steel imports to report “country of melt and pour” information.
Ternium CEO sees healthy demand buoying HRC price slide
Falling steel prices at present are not a symptom of demand but of imports arriving into the US and to some parts of Mexico, Ternium’s CEO Maximo Vedoya said this week.
GrafTech to curtail electrode capacity on weak demand, pricing
Weak demand and pricing for graphite electrodes combined with higher costs are forcing GrafTech to implement cost-cutting procedures and reduce production across its facilities.
CRU: Iron ore steady amid Chinese holidays
The iron ore market has been largely calm, with China observing the Chinese New Year (CNY) holiday period, while demand in Europe and JKT has been slow to pick up. Supply has been somewhat weaker, but overall, the price has held steady. Supply from Port Hedland remained unchanged w/w despite Roy Hill having no shipments […]
January import licenses at six-month high
Based on initial license data for January, steel imports appear to have risen to a six-month high, and flat-rolled steel imports to a seven-month high.