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

Continuous financial headwinds imply no news might be good news
concerning car demand levelsWith volume for the month projected at 1.122 million systems,
November U.S. auto sales are estimated to equate to an approximated
sales pace of 14.1 million units (seasonally changed annual rate:
SAAR). This would represent a sustained improvement from the May
through September duration but will reflect a decline from Octobers.
14.9 million-unit rate, according to S&P Global Mobility.
analysis.The daily selling rate metric in November (around 44-45K.
per day) would be in-line with levels given that September. Translation:.
From a non-seasonally adjusted volume perspective, vehicle sales.
continue to plug along at a constant pace.” Sales should continue to improve, provided the expected sustained,.
but mild, development in general production and inventory levels,”.
said Chris Hopson, principal expert at S&P Global Mobility.
” However, we likewise continue to monitor for signals of.
faster-than-expected development in stock. Currently, there are no.
clear signs; stocks have advanced as anticipated. Any.
sign of faster than predicted development in the total stock of.
new vehicles might suggest that car customers are feeling the.
pressure of the current economic headwinds and retreating from the.
market.” As a result, Octobers SAAR boost is likely to be an abnormality.
compared to the rest 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 vehicles is expected to reach.
5.9% in November. Nevertheless, outside of the large 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 seaside states and.
represent 50.5% of overall EV registrations up until now in 2022 (through.
August). The greater Los Angeles and San Francisco city.
areas alone account for nearly one-third of total share of the United States.
EV market. On the other hand the Heartland states market share of EV sales.
is hardly half of what they add to overall automobile.
registrations.” BEV market share control on the 2 coasts is attributed to.
their higher mix of early adopters compared to purchasers in middle.
America,” stated Tom Libby, associate director of Loyalty Solutions.
and Industry Analysis at S&P Global Mobility. “Their.
group profile is more in sync with the traditional BEV purchaser.
than the middle-American profile.” But Libby sees potential for EV approval in leading heartland.
markets: “More acceptance and much wider customer awareness is.
leading to a natural progression 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 advancement, item exposes surrounding the.
Los Angeles Auto Show last week continue to reflect the OEM.
focus.According to Stephanie Brinley, associate director of.
AutoIntelligence at S&P Global Mobility, “As car shows at.
their best highlight what people will be driving in coming years,.
the exposes throughout the Los Angeles Auto Show show the continuing.
push toward electrical and electrified vehicles.” Of note, Fiat announced it will bring a variation of the European.
500 EV to the U.S. beginning in early 2024, restoring the 500e.
nameplate. Toyotas reveal of the 2023 Prius hybrid consisted of 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 concept, previewing a forthcoming compact SUV.
Meanwhile, Vietnamese entrant VinFast revealed U.S.-trim versions of.
two EV crossover additions to its lineup – bringing its capacity.
US offerings to four.