Steel Products
Auto Sales Slow in January
Written by Tim Triplett
January 24, 2018
Edmunds forecasts that 1,121,932 new cars and trucks will be sold in the U.S. in January for an estimated seasonally adjusted annual rate (SAAR) of 16.7 million. This reflects a 29.8 percent decrease in sales from December 2017 and a 1.4 percent decrease from January 2017.
“In January, automakers are expected to pull the reins in on the more generous incentive programs that we saw at the end of 2017,” said Jessica Caldwell, executive director of industry analysis at Edmunds. “However, it’s typical to see a slowdown at dealerships in January following the high-selling holiday months. This isn’t necessarily a solid indicator of the direction that the year is headed in terms of overall sales.”
Sluggish January sales are also expected as a result of severe winter weather in many parts of the country. “The bomb cyclone that tore through the East Coast at the beginning of the month certainly didn’t help an already slower sales month,” said Caldwell.
{loadposition reserved_message}
Edmunds also estimates that the average price of a new vehicle hit its highest point in history in December at $36,495, fueled by dealers working hard to clear their 2017 inventories and make room for new 2018 models, as well as consumers willing to pay a bit more to get larger vehicles with all the bells and whistles.

Tim Triplett
Read more from Tim TriplettLatest in Steel Products

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.

Whirlpool says tariffs will bolster business
“Economically, the business case for products made in the us has become a lot more attractive," the CEO told Fox Business.

Worthington Enterprises buys Elgen Manufacturing
Worthington Enterprises acquires HVAC products maker Elgen Manufacturing.