Continuous financial headwinds indicate no news could be good news
regarding car demand levelsWith volume for the month projected at 1.122 million units,
November U.S. car sales are approximated to translate to an estimated
sales speed of 14.1 million units (seasonally adjusted annual rate:
SAAR). This would represent a sustained improvement from the May
through September duration but will show a decrease from Octobers.
14.9 million-unit speed, according to S&P Global Mobility.
analysis.The day-to-day selling rate metric in November (approximately 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 rate.” Sales ought to continue to improve, provided the expected continual,.
Moderate, development in overall production and inventory levels,”.
said Chris Hopson, principal analyst at S&P Global Mobility.
” However, we likewise continue to keep an eye on for signals of.
faster-than-expected development in stock. Currently, there are no.
clear signs; stocks have advanced as expected. But any.
indication of faster than projected growth in the overall stock of.
new automobiles might imply that car consumers are feeling the.
pressure of the current economic headwinds and pulling back from the.
market.” As a result, Octobers SAAR increase is likely to be an abnormality.
compared to the rest of the year, Hopson stated, adding that.
there are expectations of volatility in the month-to-month results.
starting in early 2023. Market share of battery-electric lorries is expected to reach.
5.9% in November. Outside of the big 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 overall EV registrations up until now in 2022 (through.
August). The greater Los Angeles and San Francisco urban.
locations 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 barely half of what they contribute to total automobile.
registrations.” BEV market share control on the 2 coasts is associated 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.
market profile is more in sync with the conventional BEV purchaser.
than the middle-American profile.” But Libby sees prospective for EV acceptance in top heartland.
markets: “More acceptance and much more comprehensive 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 development, 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 auto shows at.
their finest highlight what individuals will be driving in coming years,.
the exposes during the Los Angeles Auto Show show the continuing.
push towards 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, reviving the 500e.
nameplate. Toyotas reveal of the 2023 Prius hybrid consisted of a.
Prime trim that will double the hatchbacks EV-only range, while.
the automaker also showed a making of the bZ (” Beyond Zero”).
electric-vehicle idea, previewing a forthcoming compact SUV.
Meanwhile, Vietnamese entrant VinFast showed 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 individually managed division of S&P Global.