Steel Markets
US Auto Sales Slower in August
Written by Sandy Williams
September 8, 2016
U.S. automotive sales took a 4.1 percent dip in August as demand softened after record breaking sales in 2015. Sales totaled 1.506 million vehicles last month, according to final tally by Wards Auto.
The seasonally adjusted annual rate fell short of expectations at 16.9 million, well below July’s SAAR of 17.8 million and the August 2015 rate of 17.7 million. Sales have peaked according to several auto manufacturers and economists. Autodata Corp says sales are still on pace, however, to exceed the 2015 record of 17.5 million.
SUVs and light duty trucks continue to dominate market sales. According to Wall Street Journal data, car sales slipped 8.4 percent year over year in August while trucks grew 2.5 percent. SUVs and crossovers sales increased 3.8 percent from August last year
The top three sellers in August were all pick-ups, the Ford-F series, Chevrolet Silverado and Dodge Ram. Sales for all three, however, were down 6.1, 4.7 and 11.3, respectively, year over year.
Sandy Williams
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Final Thoughts
The first rule of Steel 101 is that you’re free to talk about Steel 101. We actually encourage it. Last week on Tuesday and Wednesday, SMU’s Steel 101 was held in Mt. Pleasant, S.C.
SMU Survey: Buyers Sentiment Indices Rise
SMU’s Current and Future Steel Buyers Sentiment Indices both increased this week, based on our most recent survey data. Every other week we poll steel buyers about sentiment. The Steel Buyers Sentiment Indices measure how steel buyers feel about their company’s chances of success in the current market, as well as three to six months down the road. We have historical data going back to 2008. Check our interactive graphing tool here.