Steel Markets
July 5, 2018
Auto Sales Increase in June, But Tariffs Put Industry in Jeopardy
Written by Sandy Williams
Detroit automakers reported higher sales in June as buyer enthusiasm for SUVs and pickup trucks continued. Ford sales for the month increased 1.2 percent year-over-year to 230,635 vehicles on purchases of SUVs and F-series trucks. Fiat Chrysler sales jumped 8 percent to 202,264 vehicles in June and General Motors, no longer reporting monthly sales, said quarterly sales increased 4.6 percent. Automakers from Toyota, Honda, Nissan, Subaru, Kia, Hyundai and Volkswagen all posted improved results for the month.
U.S. auto sales remained robust in the first half of 2018, increasing 1.9 percent thanks to a strong economy, tax cuts and low unemployment. Cox Automotive expects full-year sales to reach 16.8 million vehicles, while IHS is forecasting 16.9 million.
