Continuous financial headwinds suggest no news could be great news
concerning automobile need levelsWith volume for the month projected at 1.122 million units,
November U.S. car sales are approximated to equate to an estimated
sales pace of 14.1 million units (seasonally changed yearly rate:
SAAR). This would represent a sustained improvement from the May
through September period however will reflect 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.
each day) would be in-line with levels given that September. Translation:.
From a non-seasonally adjusted volume standpoint, auto sales.
continue to plug along at a constant pace.” Sales must continue to enhance, provided the expected sustained,.
but moderate, development in total production and inventory 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; stocks have actually advanced as anticipated. But any.
sign of faster than predicted development in the general stock of.
new lorries might suggest that car consumers are feeling the.
pressure of the existing economic headwinds and pulling back from the.
market.” As a result, Octobers SAAR boost is likely to be an anomaly.
compared to the rest of the year, Hopson said, including that.
there are expectations of volatility in the monthly results.
beginning in early 2023. Market share of battery-electric lorries is expected to reach.
5.9% in November. 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 United States are all in seaside states and.
represent 50.5% of total EV registrations up until now in 2022 (through.
August). The higher Los Angeles and San Francisco cosmopolitan.
locations alone represent nearly one-third of total share of the US.
EV market. On the other hand the Heartland states market share of EV sales.
is barely half of what they add to overall car.
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 traditional BEV buyer.
than the middle-American profile.” But Libby sees prospective for EV acceptance in top heartland.
markets: “More approval and much broader consumer 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 improvement, product exposes 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 vehicle shows at.
their finest emphasize what individuals will be driving in coming years,.
the reveals throughout the Los Angeles Auto Show reflect the continuing.
push toward electric and amazed vehicles.” Of note, Fiat announced it will bring a version of the European.
500 EV to the U.S. beginning in early 2024, reviving the 500e.
nameplate. Toyotas expose of the 2023 Prius hybrid included a.
Prime cut that will double the hatchbacks EV-only variety, while.
the car manufacturer likewise revealed a making of the bZ (” Beyond Zero”).
electric-vehicle idea, previewing a forthcoming compact SUV.
On the other hand, Vietnamese entrant VinFast revealed U.S.-trim versions of.
two EV crossover additions to its lineup – bringing its capacity.
US offerings to four.

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