Continuous financial headwinds imply no news might be excellent news
concerning automobile need levelsWith volume for the month projected at 1.122 million systems,
November U.S. auto sales are estimated to translate to an approximated
sales rate of 14.1 million systems (seasonally adjusted 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 day-to-day selling rate metric in November (around 44-45K.
daily) would be in-line with levels given that September. Translation:.
From a non-seasonally adjusted volume perspective, auto sales.
continue to plug along at a constant speed.” Sales need to continue to improve, given the expected continual,.
Moderate, development in general production and inventory levels,”.
said Chris Hopson, principal expert at S&P Global Mobility.
” However, we also continue to keep track of for signals of.
faster-than-expected growth in stock. Currently, there are no.
clear signs; inventories have actually advanced as expected. But any.
indication of faster than projected growth in the total stock of.
new vehicles could indicate that car consumers are feeling the.
pressure of the current financial headwinds and pulling back from the.
market.” As an outcome, Octobers SAAR increase is likely to be an abnormality.
compared to the rest of the year, Hopson said, adding that.
there are expectations of volatility in the monthly results.
beginning in early 2023. Market share of battery-electric vehicles is expected to reach.
5.9% in November. Outside of the big 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 total EV registrations up until now in 2022 (through.
August). The greater Los Angeles and San Francisco metropolitan.
areas alone represent almost one-third of overall share of the United States.
EV market. The Heartland states market share of EV sales.
is barely half of what they contribute to general 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,” said Tom Libby, associate director of Loyalty Solutions.
and Industry Analysis at S&P Global Mobility. “Their.
group profile is more in sync with the standard BEV purchaser.
than the middle-American profile.” But Libby sees possible for EV approval in leading heartland.
markets: “More acceptance and much more comprehensive consumer awareness is.
resulting in a natural development 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, item 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 auto shows at.
their best highlight what people will be driving in coming years,.
the reveals throughout the Los Angeles Auto Show reflect the continuing.
push toward electric and energized lorries.” Of note, Fiat revealed 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 cut that will double the hatchbacks EV-only variety, while.
the automaker also revealed a making of the bZ (” Beyond Zero”).
electric-vehicle idea, previewing a forthcoming compact SUV.
On the other hand, Vietnamese entrant VinFast showed U.S.-trim variations of.
two EV crossover additions to its lineup – bringing its capacity.
United States offerings to 4.

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