Steel Markets

2015 Is Record Year for US Auto Sales
Written by Sandy Williams
January 5, 2016
Analysts expected U.S. auto sales to approach a seasonally adjusted annual rate of 18 million units for 2015, but slipping December sales brought the total to 17.47 million, an all-time record according to Autodata Corp.
Commenting on its tally of December sales, Wards Auto wrote, “It speaks volumes for the kind of year 2015 was that December’s 17.2 million SAAR could be characterized as disappointing, with calendar year sales outpacing prior year by 5.8%.”
Auto analysts, including those at TrueCar Inc., expect 2016 to be another banner year for automakers with sales reaching 18 million.
Sales were still strong for most automakers with double digit percentage month over year increases in December. Hyundai sales slipped by 1.5 percent along with BMW Group whose sales fell 17.7 percent. Beleaguered Volkswagen sales dropped 9.11 percent in December adding to a 2015 year decline of 4.78 percent for the company.
FCA US sales led the Big Three, up 13 percent in December and 7 percent for the full year. GM and Ford were each up 5 percent compared to annual sales for 2014.
“The U.S. economy continues to expand and the most important factors that drive demand for new vehicles are in place, so we expect to see a second consecutive year of record industry sales in 2016,” said Mustafa Mohatarem, GM’s chief economist. “The single most important pieces are the ongoing gains in employment and the growth in personal income. When you add in lower energy prices, it’s easy to see why consumer spending is strong.”
Smaller volume Mazda had its best annual sales in 20 years and Mercedes-Benz, with annual sales of 38,918, reported its highest annual volume in its U.S. history.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets

CRU: China’s indirect steel exports find new destination markets
The boom in China’s direct steel exports has not stopped this year, even with a rise in protectionist measures globally. The increase is driven by...

Great Lakes iron ore cargoes down in September as Cleveland tonnage slips
Iron ore shipments from US Great Lakes ports fell sharply in September, per the latest from the Lake Carriers’ Association (LCA) of Westlake, Ohio.

HVAC equipment shipments down through August
Although total HVAC shipments fell in August, YTD volumes remain relatively strong. Nearly 15 million units were produced in the first eight months of the year, the fourth-highest rate in our 19-year data history.

Sheet market sources slam tariffs for prolonged demand slump
Tariffs are ultimately to blame for stagnant demand in the hot-rolled coil market, domestic market sources tell SMU.

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.