Steel Markets
March 4, 2014
Winter Still Wreaking Havoc on Auto Sales
Written by Sandy Williams
Winter weather weakened auto sales for a second month. February sales rose to a seasonally adjusted annual rate of 15.29 million in February from a nine month low of 15.2 million in January. Sales fell below analyst consensus of 15.4 million and IHS forecast of 15.5 million. WardsAuto estimates inclement weather pushed sales down by 3 percent or 75,000 units in February.
US auto sales for February totaled 1.19 million vehicles bringing year to date results for 2014 to just less than 2.2 million units, said WardsAuto, down 1.5 percent from the first two months of 2013.
