Sports utility vehicles are on the horizon for Volkswagen. The company “is preparing to build sport utility vehicles in North America as it struggles to conquer a market whose resistance is threatening its bid to be world No. 1,” reports Reuters.
“The German carmaker prefers its Tennessee factory over a Mexican plant to produce the new SUV and may announce the plan as soon as next week’s Detroit auto show, said a source familiar with the matter who asked not to be identified.”
“The Volkswagen (VW) group, with brands ranging from no-frills SEAT to Bentley, is aiming to sell 10 million cars in 2018 to overtake General Motors and Toyota – including 800,000 U.S. deliveries for the core VW badge.”
In metal price news for the automotive sector…
A 4.2 percent improvement on the weekly Automotive MMI® made US platinum bar the week’s biggest mover. Over the past week, US palladium bar rose 4.1 percent.
The price of US HDG rose 0.1 percent over the past week. This was the fifth week in a row of increasing prices.
The price of Chinese lead fell 0.5 percent last week. Following a 1.6 percent increase in the week prior, the cash price of primary copper fell 0.4 percent on the LME last week to $7,367 per metric ton. The copper 3-month price fell 0.2 percent on the LME to $7,355 per metric ton after rising 1.4 percent the week before. Korean 5052 coil premium over 1050 sheet prices held steady from the previous week.
The Automotive MMI® collects and weights 7 metal price points used in automotive production to provide a unique view into automotive metal trends. For more information on the Automotive MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.