Steel Markets
May 3, 2016
April Auto Sales Off to a Good Start for Q2
Written by Sandy Williams
U.S. automakers reported strong sales in April. WardsAuto expects the seasonally adjusted annual rate to reach 17.6 million units, surpassing last month’s rate of 16.6 million and 2015’s rate of 16.7 million. Volume sales for the month are expected to reach 1.51 million units exceeding the previous record for the month set in 2005.
Sales showed some slowing in first quarter, but April strength could mean higher sales through the typically strong summer. On the other hand, many analysts think the industry is reaching its peak and will begin to weaken. Consumers tempted by low gas prices and interest rates, however, continue to upgrade to newer vehicles.
