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

Ongoing financial headwinds suggest no news might be excellent news
regarding auto need levelsWith volume for the month forecasted at 1.122 million systems,
November U.S. car sales are approximated to equate to an estimated
sales rate of 14.1 million systems (seasonally changed annual rate:
SAAR). This would represent a continual 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 daily selling rate metric in November (roughly 44-45K.
per day) would be in-line with levels since September. Translation:.
From a non-seasonally adjusted volume standpoint, car sales.
continue to plug along at a stable rate.” Sales must continue to enhance, given the expected continual,.
however mild, 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 development in stock. Presently, there are no.
clear signs; stocks have actually advanced as prepared for. Any.
indicator of faster than projected development in the total stock of.
new cars might imply that automobile consumers are feeling the.
pressure of the current economic headwinds and pulling back from the.
market.” As a result, Octobers SAAR increase is most likely to be an abnormality.
compared to the remainder of the year, Hopson said, adding that.
there are expectations of volatility in the regular monthly outcomes.
starting 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 cosmopolitan.
locations alone represent nearly one-third of total share of the United States.
EV market. The Heartland states market share of EV sales.
is barely half of what they add to general automobile.
registrations.” BEV market share control on the two coasts is associated to.
their higher 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.
market profile is more in sync with the conventional BEV buyer.
than the middle-American profile.” But Libby sees prospective for EV approval in leading heartland.
markets: “More acceptance and much wider 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 development, product 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 car programs at.
their finest highlight what individuals will be driving in coming years,.
the reveals throughout the Los Angeles Auto Show reflect the continuing.
push toward electrical and amazed cars.” Of note, Fiat revealed it will bring a variation 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 showed a making of the bZ (” Beyond Zero”).
electric-vehicle idea, previewing a forthcoming compact SUV.
Vietnamese entrant VinFast showed U.S.-trim variations of.
two EV crossover additions to its lineup – bringing its capacity.
United States offerings to four.