Steel Markets
April 3, 2018
Auto Sales Surge in March
Written by Sandy Williams
Automakers reported strong sales in March after a weak performance in February. Industry sales rose to 1.647 million units from 1.548 million last year, according to WardsAuto. The seasonally adjusted annual rate was 17.4 million, surging over last year’s rate of 16.7 million.
“Consumers are keeping the U.S. economy growing and auto sales very healthy,” said Mustafa Mohatarem, GM’s chief economist. “The job market is strong, consumer confidence is at decade-high levels and we see clear evidence that business owners are taking advantage of tax reform to upgrade their fleets.”
