Steel Markets

US Auto Sales Off to a Decent Start in 2016

Written by Sandy Williams

Two fewer selling days and brutal winter weather may have played a part in softer automotive sales in January.

GM and FCA sales were up 9 percent and 7 percent, respectively, but Ford sales slipped 3 percent year over year.

Toyota and Honda sales were down year over year as were sales for Nissan and Mazda. Kia and Subaru sales were essentially flat while Hyundai increased by 1.1 percent. Honda called it “an unusual month as the industry endured winter weather on both coasts along with two fewer selling days.”

Volkswagen, still suffering from its diesel scandal, saw deliveries drop 14.57 percent from January 2014.

WardsAuto is projecting light vehicle sales of 1.15 million for January just above their forecast of 1.13 million. The seasonally adjusted annual rate is projected at 17.5 million, the best for January since the 2006 SAAR of 18.1 million units.

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