Abstract: A dual-phase hot-rolled steel strip and method of making same which is characterized by a microstructure in the as-rolled condition of discrete islands of hard martensite dispersed through a substantially continuous matrix of soft polygonal ferrite and containing as its essential alloying constituents, about 0.05% to about 0.11% carbon, about 0.6% to 1.8% manganese, about 0.7% to about 1.2% silicon, about 0.2% to about 0.4% molybdenum, about 0.3% to about 0.9% chromium, up to about 0.1% vanadium, and the balance consisting essentially of iron along with the usual impurities and residuals present in conventional amounts. The high strength low alloy steel is further characterized as having good initial formability properties and work hardening characteristics, rendering it eminently suitable for the fabrication of structural components for automobiles, such as bumpers, wheel components and the like.