Steel Markets
July 20, 2015
US Vehicle Sales and NAFTA Vehicle Production in June 2015
Written by Peter Wright
Following the exceptional rate of vehicle sales in the US in May the June rate fell from 17.8 million annualized to 17.2 million which is a more sustainable rate. The June pace was still higher than the 16.9 million units average of the past 12 months. Demand is being supported by easier credit terms, sustained job growth and an increase in average wages. Light trucks accounted for 55 percent of total sales in June. Auto sales were 7.8 million, LT 9.4 million and imports were 3.7 million for an import market share of 21.5 percent. Import market share has been trending down this year and is well below the 30 percent level reached in early 2009.
Total light vehicle (LV) production in NAFTA in June was at an annual rate of 18.543 million units, up from 17.656 in May and the second highest in eight months. On average since 2004, June’s production has been 2.7 percent higher than May, this year June was up by 5.0 percent (Figure 1).
