Steel Markets
April 15, 2022
North American Auto Assemblies Accelerate in March
Written by David Schollaert
North American auto assemblies grew by 18.1% in March, expanding for the third straight month despite ongoing supply hurdles. Though North American production has improved since last December, March’s recovery was just 1% higher year on year. And it’s still 13.5% below the pre-pandemic period of March 2019.
At the onset of 2022, the global auto industry was looking forward to a year of growth. Nearly two years removed from the initial pandemic shock, sentiment was upbeat with Covid rates receding and supply chains expected to improve. Recent events have greatly complicated the outlook, however, as the war in Ukraine takes the auto sector on another roller coaster ride.
