Continuous economic headwinds mean no news could be good news
concerning auto demand levelsWith volume for the month projected at 1.122 million systems,
November U.S. automobile sales are approximated to translate to an approximated
sales pace of 14.1 million units (seasonally adjusted annual 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 everyday selling rate metric in November (around 44-45K.
per day) 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 consistent speed.” Sales must continue to enhance, provided the expected sustained,.
Moderate, improvement in total production and inventory levels,”.
said Chris Hopson, primary 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 indications; inventories have actually advanced as prepared for. However any.
indicator of faster than predicted development in the overall stock of.
brand-new automobiles could mean that auto consumers are feeling the.
pressure of the present economic headwinds and retreating from the.
market.” As a result, Octobers SAAR boost is most likely to be an anomaly.
compared to the remainder of the year, Hopson stated, adding that.
there are expectations of volatility in the regular monthly outcomes.
beginning in early 2023. Market share of battery-electric vehicles is anticipated 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 overall EV registrations up until now in 2022 (through.
August). The higher Los Angeles and San Francisco metropolitan.
areas alone account for 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 add to total vehicle.
registrations.” BEV market share control on the 2 coasts is credited 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.
demographic profile is more in sync with the standard BEV purchaser.
than the middle-American profile.” But Libby sees prospective for EV acceptance in top heartland.
markets: “More approval and much wider customer 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,.
this unique report.) Supporting the EV advancement, item reveals surrounding the.
Los Angeles Auto Show recently continue to show the OEM.
focus.According to Stephanie Brinley, associate director of.
AutoIntelligence at S&P Global Mobility, “As vehicle programs at.
their best emphasize what people will be driving in coming years,.
the exposes during the Los Angeles Auto Show show the continuing.
push towards electrical and amazed vehicles.” Of note, Fiat revealed it will bring a version 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 car manufacturer also revealed a making of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing an upcoming compact SUV.
Meanwhile, Vietnamese entrant VinFast showed U.S.-trim variations of.
two EV crossover additions to its lineup – bringing its capacity.
United States offerings to four.
This article was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.