Ongoing financial headwinds imply no news could be good news
concerning car demand levelsWith volume for the month forecasted at 1.122 million systems,
November U.S. car sales are estimated to translate to an approximated
sales rate of 14.1 million units (seasonally adjusted annual rate:
SAAR). This would represent a continual improvement from the May
through September period however will show 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.
each day) would be in-line with levels since September. Translation:.
From a non-seasonally adjusted volume standpoint, automobile sales.
continue to plug along at a constant rate.” Sales must continue to enhance, given the anticipated continual,.
Mild, improvement in general production and inventory levels,”.
stated Chris Hopson, primary analyst at S&P Global Mobility.
” However, we likewise 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 anticipated. Any.
indication of faster than predicted growth in the general stock of.
brand-new cars could indicate that vehicle consumers are feeling the.
pressure of the present financial headwinds and pulling back from the.
market.” As a result, Octobers SAAR boost is most likely to be an anomaly.
compared to the remainder of the year, Hopson said, including that.
there are expectations of volatility in the month-to-month outcomes.
beginning in early 2023. Market share of battery-electric lorries is anticipated to reach.
5.9% in November. Nevertheless, beyond 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 seaside states and.
represent 50.5% of overall EV registrations so far in 2022 (through.
August). The higher Los Angeles and San Francisco cosmopolitan.
areas alone account for almost one-third of total share of the US.
EV market. Meanwhile the Heartland states market share of EV sales.
is hardly half of what they add to general car.
registrations.” BEV market share control on the 2 coasts is credited to.
their higher 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.
group profile is more in sync with the conventional BEV buyer.
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,.
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 programs at.
their finest emphasize what people will be driving in coming years,.
the reveals throughout the Los Angeles Auto Show reflect the continuing.
push toward electrical and energized automobiles.” Of note, Fiat revealed it will bring a version of the European.
500 EV to the U.S. starting in early 2024, reviving the 500e.
nameplate. Toyotas reveal of the 2023 Prius hybrid included a.
Prime cut that will double the hatchbacks EV-only range, while.
the car manufacturer likewise revealed a rendering of the bZ (” Beyond Zero”).
electric-vehicle concept, previewing an upcoming compact SUV.
Vietnamese entrant VinFast revealed U.S.-trim variations of.
2 EV crossover additions to its lineup – bringing its potential.
United States offerings to 4.
This article was published by S&P Global Mobility and not by S&P Global Ratings, which is an individually managed department of S&P Global.