This article was released by S&P Global Mobility and not by S&P Global Ratings, which is a separately handled department of S&P Global.

On projected volume of approximately 1.139 million systems, US
vehicle sales in October will reach a seasonally changed yearly rate
( SAAR) of 14.7 million systems, according to S&P Global Mobility
quotes. While this would mark the strongest monthly SAAR level
in eight months, the underlying dynamics of the marketplace remain in
flux.” Pockets of vehicle inventory levels continue to enhance
more quickly than anticipated from extremely low levels and
bring welcome news on the supply side of the equation.
vehicle customers are likely feeling the pressure of present economic
headwinds,” according to Chris Hopson, Principal Analyst at
S&P Global Mobility. “While we continue to indicate
stock levels as a significant consider stemming immediate-term
momentum in car sales levels, the deteriorating financial
conditions are becoming more prevalent.” Hindered by higher rate of interest settings and lower levels of
jobs development than formerly anticipated, customers are anticipated to
retrench – thus becoming a significant input factor to auto demand
levels over the next 12-18 months. In its October 2022 US Economics
update, S&P Global Market Intelligence group has modified
downward its projection of real GDP growth in 2023 from 0.9% to
-0.5%. The base forecast now consists of a moderate economic downturn starting in
the 4th quarter of this year, with an anemic recovery taking
keep in the 3rd quarter of next year.If theres a silver lining, the capacity for faster new-vehicle
stock growth need to enable down pressure on lorry
pricing and offer some clearance for automobile consumers ready to
test the market in 2023.