Continuous economic headwinds imply no news could be good news
relating to vehicle need levelsWith volume for the month predicted at 1.122 million systems,
November U.S. auto sales are approximated to translate to an approximated
sales pace of 14.1 million units (seasonally changed yearly rate:
SAAR). This would represent a sustained enhancement from the May
through September duration but will show a decrease from Octobers.
14.9 million-unit rate, according to S&P Global Mobility.
analysis.The day-to-day selling rate metric in November (roughly 44-45K.
daily) would be in-line with levels since September. Translation:.
From a non-seasonally adjusted volume standpoint, car sales.
continue to plug along at a constant rate.” Sales must continue to enhance, provided the anticipated sustained,.
but mild, advancement in total production and stock levels,”.
said Chris Hopson, primary expert at S&P Global Mobility.
” However, we also continue to keep an eye on for signals of.
faster-than-expected growth in stock. Presently, there are no.
clear indications; inventories have actually advanced as expected. However any.
sign of faster than predicted growth in the total stock of.
new automobiles could mean that car consumers are feeling the.
pressure of the existing financial headwinds and retreating from the.
market.” As an outcome, Octobers SAAR increase is likely to be an anomaly.
compared to the remainder of the year, Hopson stated, adding that.
there are expectations of volatility in the monthly results.
starting in early 2023. Market share of battery-electric automobiles is expected to reach.
5.9% in November. Outside of the big coastal cities,.
retail registrations of EVs have yet to take hold, according to.
analysis from S&P Global Mobility.The top-eight EV markets in the US are all in coastal states and.
represent 50.5% of total EV registrations so far in 2022 (through.
August). The higher Los Angeles and San Francisco metropolitan.
areas alone account for almost one-third of overall share of the US.
EV market. The Heartland states market share of EV sales.
is barely half of what they contribute to total lorry.
registrations.” BEV market share control on the two coasts is credited to.
their greater mix of early adopters compared to purchasers in middle.
America,” said Tom Libby, associate director of Loyalty Solutions.
and Industry Analysis at S&P Global Mobility. “Their.
demographic profile is more in sync with the standard BEV purchaser.
than the middle-American profile.” But Libby sees prospective for EV acceptance in top heartland.
markets: “More approval and much wider customer awareness is.
resulting in a natural development of adoption from the coasts to.
the Heartland.” (For more on this analysis of EVs in the Heartland,.
please see.
this special report.) Supporting the EV improvement, item reveals surrounding the.
Los Angeles Auto Show recently continue to reflect the OEM.
focus.According to Stephanie Brinley, associate director of.
AutoIntelligence at S&P Global Mobility, “As automobile shows at.
their finest highlight what people will be driving in coming years,.
the exposes throughout the Los Angeles Auto Show reflect the continuing.
push towards electrical and energized cars.” Of note, Fiat revealed it will bring a version of the European.
500 EV to the U.S. starting in early 2024, reviving the 500e.
nameplate. Toyotas reveal of the 2023 Prius hybrid included a.
Prime cut that will double the hatchbacks EV-only range, while.
the automaker likewise revealed a rendering of the bZ (” Beyond Zero”).
electric-vehicle idea, previewing an upcoming compact SUV.
Vietnamese entrant VinFast revealed U.S.-trim versions of.
two EV crossover additions to its lineup – bringing its capacity.
US offerings to 4.

This article was released by S&P Global Mobility and not by S&P Global Ratings, which is an individually managed department of S&P Global.