Steel Markets
November 23, 2015
US Vehicle Sales and NAFTA Vehicle Production in October 2015
Written by Peter Wright
In October, vehicle sales had another small gain from September’s post-recession high of almost 18.2 million units at a seasonally adjusted annual rate. This followed the August rate of 17.8 million units. Both at the time were the best pace since July 2005, when incentives caused sales to surge. Sales in October were 10 percent higher than the same month a year ago. Light trucks continued to dominate with 10.2 million units but declined by 100,000 in October. The balance, 8.0 million being autos which increased by 100,000. Crossover vehicles are classified as light trucks.
So far this year, the sales pace average is 17.3 million units and it is probable that 2015 will have the best pace since 2001. Pent-up demand for vehicles is being quickly absorbed and the decline in gasoline prices is encouraging consumers to buy larger vehicles. North American assembled vehicles had a market share of 78.6 percent, down from >80 percent in September.
