Steel Markets
March 20, 2014
NAFTA Automotive Production and Sales in February 2014
Written by Peter Wright
Light vehicle sales in both January and February were depressed by the unusually bad weather in the North. This applied to both retail and fleet sales. The annualized sales total of autos + light trucks in February was 15.4 million units. Sales are expected to rebound to greater than a 16 million unit annual rate as pent up demand is satisfied.
Weak sales have contributed to a buildup in inventory this year. Compared to the end of February a year ago, day’s sales on the floor increased by 13 percent for the Detroit 3, by 8 percent for the Asia/Pacific manufacturers, and by 3 percent for the European brands.
