Steel Products
NADA: 2018 Auto Sales to Hit 16.7 Million
Written by Tim Triplett
January 15, 2018
The National Automobile Dealers Association (NADA) predicts sales of 16.7 million new cars and light trucks in 2018.
“We expect 2018 to be a robust year,” said NADA Chairman Mark Scarpelli, a multi-franchise dealer near Chicago. NADA’s sales forecast, while down from 2017, is indicative of a stable and healthy market for new vehicles this year, particularly for light trucks, SUVs, crossovers and pickups.
According to NADA senior economist Patrick Manzi, the vehicle segment mix will continue to favor light-truck sales in 2018, accounting for more than 65 percent of sales.
Manzi said that the overall economic outlook for 2018 remains strong with projected gross domestic product growth at 2.6 percent, average employment growth at about 180,000 jobs per month, and the price for regular-grade gasoline at about $2.50 per gallon.
{loadposition reserved_message}
Rising interest rates, ever-increasing loan terms and higher vehicle transaction prices will likely lead to a slower but still strong sales pace in 2018, he added.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products
CRU: Excessive global supply could hit rebar mill investments in US
Following the onset of the war in Ukraine in March 2022, concerns about import availability and expectations of rising demand from President Biden’s Infrastructure Bill pushed US rebar prices to record highs. In response, a flurry of new mills and capacity expansions were announced to meet the rise in demand from growth in the construction […]
Steel buyer spirits tempered by soft spot market conditions
Steel sheet buyers report feeling bogged down by the ongoing stresses of stagnant demand, news fatigue, tariff negotiations or implementation timelines, and persistent macroeconomic uncertainty.
CRU: US stainless prices to rise on expanded S232 tariffs
Stainless prices in the US market will rise, following price increases by major US producers. Our base case scenario incorporates higher US prices in the near term, despite the initial negative reaction by the market. US stainless prices will go up in 2025 H2 and will stay elevated in 2026 as tariffs on stainless […]
Galvanized steel demand unsteady amid lingering buyer fatigue: HARDI
Uneven demand for galvanized steel in June reflects a market that remains mired in uncertainty, according to industry sources.
OCTG industry salutes Customs for catching trade crooks
The US OCTG Manufacturers Association is commending US Customs for intercepting another Thai company's attempt to illegally transship Chinese oil pipe to the US.