NorthAm auto production estimate increases

Market: Coking coal, Metals
08/06/23

North American automotive production estimates for 2023 have increased in the last month.

New numbers from AutoForecast Solutions indicate that an additional 80,000 vehicles could be produced this year in the region, according to the company's latest monthly report.

North American production of new vehicles in 2023 could rise to 15.65mn vehicles, the report states.

"Sales of new light vehicles continue to chug along and automakers say they don't foresee a slowdown in the near term. This is mostly due to automakers increasing their sales to fleet customers, who have been starved of new product over the past couple of years," the consultancy said.

AutoForecast cited the biggest risks to auto production as the potential for labor disruptions as the United Auto Workers (UAW) union gears up to negotiate new contracts with the Big 3 US automakers Ford, General Motors and Stellantis.

By Rye Druzin

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