Ongoing economic headwinds imply no news might be good news
regarding automobile demand levelsWith volume for the month predicted at 1.122 million units,
November U.S. vehicle sales are approximated to translate to an estimated
sales rate of 14.1 million units (seasonally adjusted annual rate:
SAAR). This would represent a continual enhancement from the May
through September period but will reflect a decline from Octobers.
14.9 million-unit pace, according to S&P Global Mobility.
analysis.The everyday selling rate metric in November (around 44-45K.
daily) would be in-line with levels since September. Translation:.
From a non-seasonally adjusted volume standpoint, auto sales.
continue to plug along at a constant speed.” Sales ought to continue to improve, offered the expected continual,.
however mild, advancement in total production and stock levels,”.
said Chris Hopson, principal analyst at S&P Global Mobility.
” However, we also continue to monitor for signals of.
faster-than-expected growth in inventory. Presently, there are no.
clear signs; inventories have actually advanced as anticipated. However any.
indicator of faster than predicted development in the overall stock of.
new lorries could imply that vehicle customers are feeling the.
pressure of the present economic headwinds and pulling back from the.
market.” As an outcome, Octobers SAAR increase is likely to be an anomaly.
compared to the rest of the year, Hopson said, adding that.
there are expectations of volatility in the monthly results.
beginning in early 2023. Market share of battery-electric cars 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 United States are all in coastal states and.
represent 50.5% of overall EV registrations up until now in 2022 (through.
August). The greater Los Angeles and San Francisco urbane.
locations alone represent nearly one-third of overall share of the United States.
EV market. The Heartland states market share of EV sales.
is hardly half of what they add to total lorry.
registrations.” BEV market share control on the two coasts is credited to.
their greater mix of early adopters compared to buyers in middle.
America,” stated Tom Libby, associate director of Loyalty Solutions.
and Industry Analysis at S&P Global Mobility. “Their.
demographic profile is more in sync with the conventional BEV purchaser.
than the middle-American profile.” But Libby sees prospective for EV approval in top heartland.
markets: “More acceptance and much broader consumer awareness is.
leading to 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 exposes surrounding the.
Los Angeles Auto Show last week continue to show the OEM.
focus.According to Stephanie Brinley, associate director of.
AutoIntelligence at S&P Global Mobility, “As car programs at.
their best emphasize what people will be driving in coming years,.
the reveals during the Los Angeles Auto Show show the continuing.
push towards electric and energized vehicles.” Of note, Fiat announced 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 trim that will double the hatchbacks EV-only range, while.
the car manufacturer also revealed a making of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing a forthcoming compact SUV.
Vietnamese entrant VinFast revealed U.S.-trim variations of.
two EV crossover additions to its lineup – bringing its potential.
United States offerings to 4.

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