Articles in Category: Automotive

Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner, including whether or not we are in a supercycle, rising EV demand and more:

list of commodities prices

bradcalkins/Adobe Stock

MetalMiner should-cost models: Give your organization levers to pull for more price transparency, from service centers, producers and part suppliers. Explore the models today.

Week of May 3-7 (supercycle, EV battery demand and more)

The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

The Automotive Monthly Metals Index (MMI) jumped by 8.1% for this month’s value, as US auto sales showed strength in April.

We’re offering timely emails with exclusive analyst commentary and some best practice advice. Sign up here.

US auto sales continue to show strength

auto sale

Photographee.eu/Adobe Stock

Automakers posted solid US sales results in April, even as the ongoing semiconductor shortage continues to hamper automotive operations.

Ford Motor Co. reported retail sales in April jumped 57.1% year over year. April retail sales reached 197,813 units.

US retail sales also jumped by 23.7% compared with April 2019 sales.

Truck sales jumped 33.0% year over year. In addition, SUV sales surged by 127.2%.

In addition, Ford EV sales jumped by 262%.

Honda sales surged by 171% in April, reaching 156,482 units sold. Honda car sales rose by 125.1%, while truck sales rose by 207.5%.

As for quarterly reporters, last month FCA US reported Q1 2021 sales jumped by 5% year over year. General Motors reported Q1 deliveries jumped by 19% year over year.

Today, GM also reported its Q1 financial results, posting $3 billion in net income.

Read more

This morning in metals news: US steel capacity utilization picked up to 78.7% last week; the US Census Bureau reported US goods and services trade figures for March; and Ford released its April sales totals.

The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

US steel capacity utilization reaches 78.7%

steel arrow up

Pavel Ignatov/Adobe Stock

US steel capacity utilization for the week ending May 1 reached 78.7%, the American Iron and Steel Institute reported.

The rate increased from 78.4% the week before and from 55.2% during the same week in 2020.

Output last week totaled 1,788,000 net tons, or up 44.4% year over year.

US goods and services deficit rises

The US goods and services trade deficit picked up by $3.9 billion in March from the previous month, reaching $74.4 billion.

Read more

The prospect of buying an electric vehicle (EV) may fill you with anxiety.

That is, range anxiety, charging point anxiety,  reliability anxiety and resale anxiety.

The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

Sales rise despite electric vehicle anxieties

electric vehicle charging

kinwun/Adobe Stock

Tesla’s vehicles were ranked at the bottom for reliability in a recent customer poll, scoring a miserable two stars out of a potential five.

So far, EV resales have held up relatively well. However, anxiety remains regarding a significant technological breakthrough that would make used models “obsolete.”

Such anxiety, however, is not the point. Sufficient among us are taking the plunge, so much so that EV sales are skyrocketing.

OK, skyrocketing from a low base. But in percentage terms, sales are rising faster than for any other sector.

Read more

Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner, including rising global crude steel production, automotive sector developments and much more:

You want more MetalMiner on your terms. Sign up for weekly email updates.

steelmaking in an EAF

nikitos77/Adobe Stock

Week of April 26-30 (global steel production, oil prices and more)

The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

General Motors headquarters

lindaparton/Adobe Stock

This morning in metals news: General Motors announced details of Ultium 360, which it says will simplify the charging experience for EV owners; meanwhile, Canadian miner Teck Resources released its Q1 2021 results on Wednesday; and, lastly, nearly 30% of the US population has been fully vaccinated.

Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more.

GM’s Ultium Charge 360 aims to make charging experience easier

As automakers continue the drive toward electrification, skeptics have many questions.

Will the energy used to generate electricity to charge these vehicles come from renewable sources? Will there be enough charging stations? Do we have the raw materials to facilitate such a transition from internal combustion engines (ICE) to electric vehicles (EVs)?

General Motors’ answer to some of these questions might come in the form of its Ultium 360 application.

“Today General Motors introduced Ultium Charge 360, a holistic charging approach that integrates charging networks, GM vehicle mobile apps, and other products and services to simplify the overall charging experience for GM electric vehicle owners,” the automaker said.

Through Ultium Charge 360, GM said it aims to continue to improve access to charging. In addition, it will offer a mobile app that EV owners can utilize to find charging stations and process payment.

Read more

automotive sale in dealership

Maksym Povozniuk/Adobe Stock

According to a joint forecast released by J.D. Power and LMC Automotive, US new-vehicle retail sales in April 2021 are headed for the highest number ever recorded for that month.

The news will be some consolation to automakers, who have struggled with a semiconductor shortage. As a result of the shortage, General Motors, Ford, Stellantis, Honda and many others have had to idle production.

We know what you should be paying for metals — MetalMiner should-cost models are the ultimate savings hack by showing you the “should-cost” price for gauge, width, polish and finish adders. Explore what value they can add for your organization.

New-vehicle retail sales set to hit record April

Despite the slowdown in output, US automotive sales surged in April.

According to a forecast released today by J.D. Power and LMC Automotive, new-vehicle retail sales in April are set to reach 1,325,500 units. Trucks and SUVs are expected to account for 76.1% of those sales.

That sales figure would mark a whopping 110.6% increase from April 2020 sales (when adjusted for selling days).

Meanwhile, the April sales forecast marked a 20.8% increase compared with April 2019 sales.

In addition, the automotive intelligence firms projected 1,479,800 units in total new sales. That would mark an increase of 107.1% from April 2020. When compared with April 2019, it is a 7.8% jump when adjusted for selling days.

The groups forecast the seasonally adjusted annualized rate (SAAR) for total new-vehicle sales to reach 18.1 million units. That would mark an increase of 9.4 million units from 2020 and 1.7 million units from 2019.

Read more

Ford logo

Tobias Arhelger/Adobe Stock

This morning in metals news: Ford Motor Co. announced its new global battery center called Ford Ion Park; meanwhile, OPEC nations met via teleconference on Tuesday; and, lastly, the US goods trade deficit rose by 4% in March.

The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

Ford aims to accelerate battery R&D with Ford Ion Park

On Tuesday, automaker Ford announced a new global battery center dedicated to battery research and development.

“Ford Ion Park will use state-of-the-art equipment to pilot new manufacturing techniques that will allow Ford to quickly scale breakthrough battery cell designs with novel materials once the company vertically integrates battery cells and batteries,” Ford said in a release.

Ford Ion Park is located in southeast Michigan, where a team has already been working. The facility includes a $185 million collaborate learning lab, which will open late next year, Ford said. Work at the lab will include developing, testing and building vehicle battery cells and cell arrays.

The move is illustrative of increasing competitiveness in the electric vehicle space. Legacy automakers, like Ford, are pouring significant resources into electrification and closing the gap with Tesla. General Motors, for example, has said it plans to offer 30 new electric vehicle models by 2025.

Read more

This morning in metals news: the US steel sector’s capacity utilization rate hit 78.4% last week; meanwhile, Ford announced plans to invest $300 million to build a new light commercial vehicle in Romania; and, lastly, the United States International Trade Commission held a five-year sunset review regarding imports of prestressed concrete steel wire strand from China.

Volatility is the name of the game. Do you have a steel buying strategy that can handle the ups and downs?

US steel capacity utilization reaches 78.4%

steelmaking in an EAF

nikitos77/Adobe Stock

The US steel sector reached a capacity utilization rate of 78.4% for the week ending April 24, the American Iron and Steel Institute reported.

Steel production during the week totaled 1.78 million net tons. The output total marked 43.6% year-over-year increase.

During the same week in 2020, steel capacity utilization had plummeted to just 55.4%.

Ford to build new light commercial vehicle, EV in Romania

Ford announced plans to invest $300 million to manufacture a new light commercial vehicle in 2023 in Romania.

Furthermore, the automaker said it will debut a new electric vehicle model there in 2024.

Read more

Before the weekend, let’s take a look at the week that was and the metals storylines here on MetalMiner, including an aluminum smelter labor deal, copper prices, environmental policy developments and more:

Find more insight on MetalMiner’s LinkedIn.

Week of April 19-23 (aluminum labor deal, copper prices and more)

robot building automotive aluminum component

Pixel_B/Adobe Stock

The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

1 2 3 83