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

On forecasted volume of roughly 1.139 million systems, United States
auto sales in October will reach a seasonally adjusted annual rate
( SAAR) of 14.7 million units, according to S&P Global Mobility
quotes. While this would mark the strongest month-to-month SAAR level
in 8 months, the underlying dynamics of the market stay in
flux.” Pockets of vehicle stock levels continue to improve
faster than anticipated from extremely low levels and
bring welcome news on the supply side of the equation.
automobile consumers are most likely feeling the pressure of present economic
headwinds,” according to Chris Hopson, Principal Analyst at
S&P Global Mobility. “While we continue to point to
inventory levels as a major consider stemming immediate-term
momentum in vehicle sales levels, the deteriorating financial
conditions are ending up being more common.” Hindered by greater interest rate settings and lower levels of
jobs development than formerly anticipated, customers are expected to
retrench – consequently becoming a major input element to car demand
levels over the next 12-18 months. In its October 2022 US Economics
upgrade, S&P Global Market Intelligence group has revised
downward its forecast of real GDP development in 2023 from 0.9% to
-0.5%. The base forecast now includes a mild economic downturn beginning in
the fourth 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 development ought to enable downward pressure on car
prices and provide some clearance for auto customers ready to
test the market in 2023.