This post was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately handled department of S&P Global.

Ongoing economic headwinds imply no news might be great news
regarding auto demand levelsWith volume for the month predicted at 1.122 million systems,
November U.S. vehicle sales are estimated to translate to an approximated
sales pace of 14.1 million units (seasonally changed annual rate:
SAAR). This would represent a continual enhancement from the May
through September duration however will show a decline from Octobers.
14.9 million-unit pace, 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 given that September. Translation:.
From a non-seasonally adjusted volume standpoint, automobile sales.
continue to plug along at a constant pace.” Sales should continue to enhance, given the expected sustained,.
however mild, improvement in general production and stock levels,”.
said Chris Hopson, primary expert at S&P Global Mobility.
” However, we also continue to monitor for signals of.
faster-than-expected development in stock. Currently, there are no.
clear signs; stocks have advanced as prepared for. Any.
indication of faster than predicted development in the total stock of.
new vehicles might suggest that vehicle consumers 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 remainder of the year, Hopson stated, adding that.
there are expectations of volatility in the monthly outcomes.
starting in early 2023. Market share of battery-electric cars 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 US are all in coastal states and.
represent 50.5% of overall EV registrations up until now in 2022 (through.
August). The higher Los Angeles and San Francisco cosmopolitan.
areas alone represent nearly one-third of overall 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 vehicle.
registrations.” BEV market share control on the two coasts is attributed to.
their greater mix of early adopters compared to buyers in middle.
America,” said 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 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 unique report.) Supporting the EV development, product reveals 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 automobile programs at.
their best emphasize what individuals will be driving in coming years,.
the exposes throughout the Los Angeles Auto Show reflect the continuing.
push toward electrical and electrified vehicles.” Of note, Fiat announced it will bring a version of the European.
500 EV to the U.S. starting in early 2024, restoring 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 also revealed a making of the bZ (” Beyond Zero”).
electric-vehicle concept, previewing a forthcoming compact SUV.
Vietnamese entrant VinFast revealed U.S.-trim variations of.
2 EV crossover additions to its lineup – bringing its potential.
US offerings to four.