Steel Markets
July 4, 2016
Auto Sales Pace Softens in June
Written by Sandy Williams
Despite a 2.5 percent year-over-year increase in June, U.S. automotive sales were slower than the 4.0 percent expected by most analysts. WardsAuto reports sales totaled 1.5 million units last month but the seasonally adjusted annual rate was 16.6 million units, well below the 17.0 million in June 2015 and at the slowest sales pace of the past year.
The pace may have slowed but the automotive industry is still healthy and expected to exceed the 17 million plus SAAR predicted for this year.
