Steel Markets
August 24, 2014
NAFTA Light Vehicle Production for August Could be a Blockbuster
Written by Peter Wright
U.S. light vehicle sales declined slightly from June’s high level but, at a seasonally adjusted annual rate (SAAR) of 16.5 million units, were still very strong. Sales have now exceeded 16.0 million units SAAR for five straight months.
Sales in July of autos and light trucks were 8.0 and 8.5 million units, respectively. Autos declined by 300,000 and light trucks by 100,000 from the June result. The drivers continue to be pent-up demand, easier access to credit, and an improving job market. Light vehicles are autos and light trucks (GVW Classes 1-3, under 14,001 lbs.). Crossovers are classified as light trucks which considerably swells that sectors sales and production numbers.
