Steel Markets
May 20, 2014
US Vehicle Sales and NAFTA Vehicle Production in April 2014
Written by Peter Wright
Light vehicle sales in the US declined to an annual rate of 16 million units in April following March’s torrid pace of 16.4 million. Even so, April was third only to November 2013 and March 2014 in the last eight months. Light vehicles are cars and light trucks (GVW Classes 1-3, under 14,001 lbs.). The increase in light truck sales continues to outpace autos partly a result of demand from contractors.
The mix was 8.5 million and 7.5 million for light trucks and autos respectively in April. The light truck share of sales exceeded 53 percent for the first time since mid-2011. Moody’s reported in Economy.com: “Sales growth is expected to accelerate throughout the remainder of the year and reach 17 million units SAAR by the end of the year. Sales will climb even higher in 2015 before receding to a more sustainable pace below 16 million units.”
