Automotive Shipments: The Most Prominent Growth Area For Norfolk Southern This Year
Norfolk Southern’s automotive shipments have been the most prominent area of growth for the company, growing at 12% year-over-year so far this year, as opposed to a 5% year-over-year decline in overall shipments for the company. Growth in U.S. automobile sales, driven by growth in light-duty truck sales, have driven the increase in Norfolk Southern’s automotive shipments, due to a sharp decline in coal shipments and sluggish growth or declines in other segments. The increase in automobile sales is largely driven by pent-up consumer demand amid rising average age of U.S. automobiles, aided by low gasoline prices. With commodity shipments such as coal and petroleum products expected to remain subdued this year, automotive shipments represent the most prominent growth opportunity for Norfolk this year.
Have more questions about Norfolk Southern? See the links below.
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