Steel Markets
January 6, 2019
Auto Sales Top 17 Million for Fourth Year
Written by Sandy Williams
U.S. auto sales topped the 17 million mark for the fourth year in a row. Total sales for the year are estimated at 17.2 million to 17.3 million vehicles.
“New-vehicle sales were surprisingly strong in 2018 despite late cycle headwinds from higher interest rates and more nearly-new competition in the used market,” said Jonathan Smoke, chief economist, Cox Automotive. ”The key positive factor was stimulated demand from tax reform, which strengthened retail demand as the year progressed and also enabled strong gains in fleet sales.”
