Steel Markets
Automotive Sales Slower in February
Written by Sandy Williams
March 2, 2017
Automotive sales slowed overall in February. Ford and FCA saw declines of 4 and 10 percent, respectively. There were still some strong sales among auto manufacturers, notably, GM up 4.2 percent, Nissan 3.7 percent, Subaru 8.3 percent, Mercedes-Benz 7.2 percent, and Volkwagen Group up 13.3 percent year-over-year.
WardsAuto puts light vehicle sales for February at a seasonally adjusted annual rate of 17.5 million. Total February sales were 1.326 million units, a 1.1 percent decline from a year ago.
Strong sales were attributed to the 13.5 percent year-over-year increase in incentives. Higher inventory is creating fiercer competition and there are some worries that discounting could lead to declining profitability if the trend continues.
Dealership inventory levels, according to Kelly Blue Book, rose to a 70 day supply from 77-78 days in February 2016.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Glenfarne Alaska LNG and POSCO ink preliminary partnership
Glenfarne Alaska LNG and POSCO signed a preliminary strategic agreement during the GasTech Conference in Milan on Thursday.
Steel export volumes remain weak through July
Following a 3% decline in June, the amount of steel shipped outside of the US edged up 1% in July to 623,000 short tons. July was the sixth-lowest monthly export rate since the COVID-19 pandemic, and...
Hot-rolled market participants say ‘doldrums’ to roll on through year-end
Participants in the hot-rolled steel sheet market expect the market to remain subdued through the end of the year.
Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
Great Lakes iron ore shipments declined in August
Shipments of iron ore across the Great Lakes dropped to 5 million short tons (st) in August, according to the latest data from the Lake Carriers’ Association. That’s down 9.1% compared to August 2024 and 2% lower than the month’s 5-year average. All told, the year-to-date (YTD) iron ore volumes through August totaled 26.7 million […]