Steel Markets
December 21, 2014
US Vehicle Sales & NAFTA Vehicle Production
Written by Peter Wright
November was a strong month for light vehicle sales rising to 17.2 million units, (annualized) from 16.5 million in October. This was the best result since August. So far in 2014 sales are averaging 16.45 million units, the best rate since 2006. Light trucks increased faster than automobiles in November presumably boosted by low gas prices. Trucks increased from 8.5 million to 9.0 million, cars from 8.0 million units to 8.2 million. Light trucks accounted for 52.5 percent of total sales, compared with 52.1 percent year to date. Chrysler is doing particularly well being up by 21 percent over the past 12 months. Its market share, at 13 percent, is the highest since 2007. Ford, which is starting up its aluminum intensive F150 line in Dearborn was down 1.7 percent over the year through November. The market share of imported vehicles was only 20.5 percent in November and has been falling steadily since early 2009.
Total light vehicle production in NAFTA in November was at an annual rate of 16,226,040 units, down by 15.5 percent from October which was the highest production volume month since June 2000. On average since 2004, November production has declined 1.8 percent from October, (Figure 1).
