Steel Markets
August 22, 2017
Auto Data Reveals Reasons for Concern
Written by Peter Wright
Light vehicle assemblies in NAFTA declined sharply in July, according to data from Ward’s Automotive.
Economy.com reported that U.S. vehicle sales totaled fewer than 17 million units at a seasonally adjusted annualized rate (SAAR) in July for the fifth consecutive month. Sales were 16.76 million units annualized in July, down 5.9 percent on a year-ago basis. Although SUV and crossover sales remain strong, compact and midsize car sales continued to decline. Another source of weakness was fleet sales. Meanwhile, incentive spending hit a July record as automakers are increasingly under pressure to clear remaining inventory.
