Ongoing economic headwinds mean no news could be great news
regarding car demand levelsWith volume for the month forecasted at 1.122 million systems,
November U.S. vehicle sales are estimated to translate to an estimated
sales speed of 14.1 million systems (seasonally adjusted yearly rate:
SAAR). This would represent a continual improvement from the May
through September period however will show a decrease from Octobers.
14.9 million-unit pace, 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 because September. Translation:.
From a non-seasonally adjusted volume perspective, car sales.
continue to plug along at a steady pace.” Sales should continue to improve, given the expected continual,.
Moderate, advancement in total production and inventory levels,”.
stated Chris Hopson, principal expert at S&P Global Mobility.
” However, we also continue to keep track of for signals of.
faster-than-expected development in inventory. Currently, there are no.
clear signs; stocks have advanced as expected. But any.
sign of faster than predicted growth in the general stock of.
brand-new automobiles might indicate that auto consumers are feeling the.
pressure of the present economic headwinds and retreating from the.
market.” As a result, Octobers SAAR increase is likely to be an abnormality.
compared to the rest of the year, Hopson stated, including that.
there are expectations of volatility in the regular monthly outcomes.
starting in early 2023. Market share of battery-electric cars is expected to reach.
5.9% in November. However, outside of the large seaside 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 total EV registrations up until now in 2022 (through.
August). The greater Los Angeles and San Francisco urban.
locations alone represent nearly one-third of total share of the US.
EV market. The Heartland states market share of EV sales.
is hardly half of what they add to total vehicle.
registrations.” BEV market share control on the 2 coasts is credited to.
their higher 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.
market profile is more in sync with the traditional BEV purchaser.
than the middle-American profile.” But Libby sees prospective for EV acceptance in top heartland.
markets: “More approval and much more comprehensive 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 unique report.) Supporting the EV advancement, 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 vehicle programs at.
their best highlight what individuals will be driving in coming years,.
the reveals during the Los Angeles Auto Show show the continuing.
push towards electrical and electrified cars.” Of note, Fiat announced it will bring a version of the European.
500 EV to the U.S. beginning in early 2024, restoring the 500e.
nameplate. Toyotas expose of the 2023 Prius hybrid included a.
Prime trim that will double the hatchbacks EV-only variety, while.
the automaker likewise showed a making of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing an upcoming compact SUV.
Vietnamese entrant VinFast revealed U.S.-trim variations of.
two EV crossover additions to its lineup – bringing its potential.
US offerings to 4.

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