Steel Markets

Auto Sales End Year Over 17 Million
Written by Sandy Williams
January 4, 2018
Annual auto sales reached 17.13 million vehicles in December, according to WardsAuto, making it the third year in a row the industry has topped 17 million, but breaking the industry’s growth streak. It was the first time annual sales declined since the recession eight years ago.
Actual December sales were reported as 1.596 million units by WardsAuto. Truck sales took 69 percent of the market in December, and nearly two-thirds of the year’s total sales.
GM economist Mustafa Mohatarem forecasts U.S. auto sales will be in the upper 16 million range for 2018. He predicts tax reform gains will be offset by rising interest rates. Other manufacturers play down the impact of interest rates, banking on consumers seeing more money in their monthly checks and taking advantage of dealer incentives. IHS Markit projects sales of 16.9 million vehicles for this year.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets

UAW Has Upper Hand vs. Automakers: Schenker
The United Auto Workers (UAW) union has more leverage than the Detroit Three automakers in the current strike that started Sept. 15, according to Jason Schenker, president of Prestige Economics.

UAW Expands ‘Stand Up’ Strike to All Parts Distribution Plants at GM, Stellantis – Ford Spared
The United Auto Workers (UAW) significantly escalated its strike against General Motors and Stellantis on Friday.
Register for Oct. 4 Community Chat With AGC chief economist Ken Simonson
Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will be the featured speaker on the next SMU Community Chat webinar on Wednesday, Oct. 4, at 11 a.m. ET. The live webinar is free. A recording will be available free to SMU members. You can register here. We’ll talk about the outlook […]

UAW Workers Strike Parts Supplier ZF’s Plant in Alabama
United Auto Workers (UAW) union members in Alabama at a parts supplier to Mercedes-Benz have gone on strike.

Ford, Unifor Reach Tentative Labor Deal in Canada
Ford's Canadian subsidiary and auto workers represented by Unifor - roughly the Canadian equivalent of the UAW - have reached a new, tentative labor agreement.