Steel Markets
February 1, 2018
CAR Forecast: Mild Recession, Changes in Steel Use
Written by Sandy Williams
The automotive industry downturn is slight, especially considering the past two years have been record years, said Bernard Swiecki, Senior Automotive Analyst at the Center for Automotive Research, during a presentation Jan. 25 at the regional meeting of the Association of Steel Distributors.
Total light vehicle sales slipped 1.8 percent in 2017, but the trend for subcategories in the industry is more important, said Swiecki. Sales of sedans fell 11 percent, but sales of higher profit pickup trucks increased 4.5 percent. CUVs dominated one-third of the market. The cross-over utility vehicle, built on a passenger car frame, is the vehicle of choice followed by SUVs and light pickup trucks. Sales of larger vehicles are supported by lower fuel costs and a robust economy.
