Steel Markets
March 5, 2020
Auto Sales Robust in February, But Decline Expected
Written by Sandy Williams
February was a good month for auto sales, with automakers posting higher sales as buyers took advantage of incentives and President’s Day discounts. Toyota sales moved up 12 percent to 194,152 units, while Honda sales gained 4.2 percent. Hyundai sales were driven by consumer enthusiasm for crossover vehicles, gaining 15.8 percent for the month. Most automakers have moved to quarterly sales reports rather than monthly.
Automotive analysts expect a mild impact on the U.S. industry due to the coronavirus, but warn of disruption to global supply chains.
