Steel Markets
June 17, 2022
North American Auto Assemblies Improve in May
Written by David Schollaert
North American auto assemblies improved by 5.9% in May, after shrinking by 15.8% the month prior – the first decline all year. And though ongoing supply hurdles continue, North American production has improved since bottoming out last December. May’s results are 14.4% higher year-on-year (YoY), but still 17.5% below the pre-pandemic period of May 2019.
North American automotive manufacturers have endured major supply chain disruptions for two years now. The lack of semiconductor chips and other components has hammered the sector, leading to production halts, delays, and inventory shortages.
