Steel Markets
November Auto Sales Reach 18M SAAR for 3rd Month
Written by Sandy Williams
December 2, 2015
U.S. auto sales reached 1.32 million vehicles in November, a 1.4 percent increase. The seasonally adjusted annual rate according to WardsAuto, was 18.12 million vehicles, the third consecutive month above a SAAR of 18 million units. WardsAuto estimates that December sales will have to reach 1.7 million units to get a fourth consecutive month at 18 million SSAR.
Continued low gas prices, higher incentives and holiday marketing contributed to a strong November turnout by consumers.
Ford sales lagged behind the other two Detroit automakers at a .3 percent increase year over year. General Motors increased sales by 1.5 percent and FCA US had a good showing with a 3 percent increase.
Volkswagen sales suffered from the recent diesel fuel scandal with sales sliding downward 24.7 percent.
Ford Motor Co. is investing $1.3 billion at the Kentucky Truck Plant in Louisville to build the new aluminum-body Super Duty truck. The facility upgrade will add 2000 jobs. The investment is part of a trend to keep high profit models manufactured in the U.S. while moving production for smaller vehicles to lower-wage countries like Mexico.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Cliffs forecasts 2025 rebound after Q3’s weakest demand since Covid
The negative impact of high interest rates on consumer behavior, particularly in the automotive and housing sectors, was the primary driver of the demand weakness seen across the third quarter, according to Cleveland-Cliffs executives.
Primetals secures long-term maintenance deals in the Americas
Primetals Technologies renewed two long-term maintenance service contracts with steel producers in the Americas.
Steel imports slip 10% from August to September
September marked the lowest month for steel imports so far this year, according to preliminary Census data released by the Commerce Department.
CRU: What will the US elections mean for economic policy?
In this Insight piece, CRU economists explore the possible economic effects of Trump's and Harris' agendas.
Construction sector added 25,000 jobs in September
The construction sector added 25,000 jobs in September, driven by labor shortages and improved wages, according to data released by the US Bureau of Labor Statistics.