Steel Markets
U.S. Auto Sales Continue Their Successful Run
Written by Sandy Williams
October 1, 2015
U.S. automotive sale results were released today under the shadow of a failed UAW tentative agreement with Fiat Chrysler. However, auto manufacturers kept their successful sales run going again in September.
The Detroit Big Three all enjoyed double digit increases in sales last month. Ford gained 23 percent, General Motors 12 percent, and FCA 14 percent.
The Asian manufactures did well with Toyota sales increasing by 16 percent. Nissan, Honda, and Subaru all showed gains at 18 percent, 13 percent, and 28 percent, respectively.
Hyundai sales increased by 14 percent and Kia’s by 23 percent.
Volkswagen was the sole automaker to register a poor showing in September. Embroiled in a scandal over falsified diesel vehicle emissions, the company sales increased by less than 1 percent last month as customers waited to see how the problem will be addressed.
SUVS, crossovers and trucks continued to take the spotlight in September sales as gasoline prices remain favorable to consumers.
WardsAuto projects 1.44 million light vehicles were sold in the U.S. in September and a projected SAAR of 18.03 million for 2015.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Week in Review: Sept. 29 -Oct. 3
Let’s take a quick tour of some key stories from SMU in the week of Sept. 29 - Oct. 3.
Hot-rolled coil sources lament stagnant conditions
Participants in the hot-rolled sheet market expressed frustration with the continuing lack of demand this week.
Plate market sources critique mill hikes amid current market conditions
Following spot market plate price increase notices issued by domestic mills this past week, participants are contemplating the rationale behind the increases and whether they will stick. Some sources anticipate that current market conditions will shift in November and believe the increases may set a new "pricing floor."
ITC’s final ruling: Dumped, subsidized CORE imports are harming domestic market
The US International Trade Commission (ITC) finds that corrosion resistant steel (CORE) imports from 10 countries have caused material damage to domestic product producers, according to the ITC’s statement.
HR buyers report mixed market conditions
Hot-rolled coil market participants said they’re staying on their toes amid a market that continues to be characterized by uncertainty. A veteran Midwest-based service center operator contends that current conditions are unprecedentedly volatile. Being flexible with customers and strategic with mills is the only way to navigate through the uncertainty, he said. “No one wants […]