While browsing the internet, I stumbled upon this terrific post that I would love to share with you. The title of the post is “Automotive MMI: After Strong August, Sales Slow In September”, which you can see using the web link I gave at the bottom. In this post, I will certainly likewise share my ideas, inputs, as well as commentary. I actually wish you will certainly like this blog post. Please share as well as like this article. Do not fail to remember to see the initial web link at the end of this short article. Many thanks!
The Automotive Regular Monthly Metals Index (MMI) held flat this month for an MMI reading of 85.
UNITED STATE Automobile Sales
The Huge 3, which now all record sales on a quarterly basis, launched sales figures for the third quarter.
General Motors (NYSE:-RRB- reported third-quarter distributions of 738,638 vehicles, noting a 6.3% year-over-year increase.Negotiations between GM as well as the United Automobile Employees (UAW) union entered their 3rd week today, UAW rejected the most recent GM deal on Sept. 30, according to a UAW declaration.”This proposition that the Business offered to us on day 15 of the strike did not please your contract demands or needs,” UAW Vice President Terry Dittes stated in a launch. “There were lots of locations that came up brief like healthcare, wages, short-lived staff members, competent trades and also work safety among others. Additionally, concessionary propositions still continue to be in the business’s proposals as of late last evening.”Previously this month, MetalMiner Managing editor Lisa Reisman considered in on a remaining strike’s possible influence on steel costs.”Given that the UNITED STATE market takes in about 110 million bunches yearly, as well as GM’s share stands for concerning 8% of domestic steel manufacturing, it would certainly take a 39-day strike to lower demand by 1 million lots, or 1%,” she wrote.As of Thursday, Oct. 3, the strike has reached its 18th day.
Ford (NYSE:-RRB- reported third-quarter vehicle sales of 580,251, down 4.9% on a year-over-year basis. Nevertheless, Ford vehicle sales raised 8% year over year.
Fiat Chrysler’s (NYSE:-RRB- third-quarter sales were flat compared to Q3 2018.
Honda (NYSE:-RRB- sales were down 14.1% in September compared to September 2018 sales.
Toyota (NYSE:-RRB- reported sales dropped 16.5% in September on a volume basis and also by 9.2% on a day-to-day selling price basis.
Nissan’s (T:-RRB- September sales dropped 17.6% on a year over year basis.According to a jointly launched forecast by J.D. Power and also LMC Automotive, representing less selling days, September lorry sales were down 7.8% compared to September 2018.
Ford, Mahindra Group Up
Ford just recently announced a joint endeavor collaboration with India’s Mahindra , which will intend to “establish, market and also distribute Ford brand cars in India and also Ford brand and Mahindra brand name lorries in high-growth emerging markets around the world.”
Ford will have a 49% controlling stake in the joint venture, with Mahindra owning a 51% risk.
“Ford and Mahindra have a long background of collaborating, and we are happy to partner with them to expand the Ford brand in India,” Ford’s Executive Chairman Costs Ford claimed in a release. “We continue to be deeply committed to our workers, suppliers and vendors, as well as this brand-new period of collaboration will certainly permit us to supply even more automobiles to customers in this crucial market.”
Actual Metal Rates and Fads
The UNITED STATE HDG cost dropped 3.8% month over month to $804/st as of Oct. 1.
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