Last month’s results could have been higher if not for the tariff-related surge in demand in March and April that pulled ahead some volume from May and June. First-half 2025’s 16.3 million annualized rate is artificially higher because of the tariff impact, but the year-to-date total likely would still be around the 16.0 million level without the surge, well above like-2024’s 15.5 million.

A subscription is required to view this content.

Already subscribed? Continue Continue