Continuous financial headwinds indicate no news could be great news
relating to automobile need 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 systems (seasonally changed annual rate:
SAAR). This would represent a continual enhancement from the May
through September period however will reflect a decline from Octobers.
14.9 million-unit pace, according to S&P Global Mobility.
analysis.The everyday selling rate metric in November (approximately 44-45K.
each day) would be in-line with levels because September. Translation:.
From a non-seasonally adjusted volume standpoint, vehicle sales.
continue to plug along at a stable pace.” Sales must continue to enhance, offered the anticipated sustained,.
but 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 development in inventory. Presently, there are no.
clear indications; inventories have advanced as expected. Any.
sign of faster than projected growth in the overall stock of.
brand-new vehicles might imply that vehicle consumers are feeling the.
pressure of the present financial headwinds and pulling back from the.
market.” As an outcome, Octobers SAAR boost is likely to be an anomaly.
compared to the remainder of the year, Hopson said, adding that.
there are expectations of volatility in the regular monthly results.
beginning in early 2023. Market share of battery-electric cars is anticipated 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 US 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 urbane.
areas alone account for nearly one-third of overall share of the US.
EV market. The Heartland states market share of EV sales.
is barely half of what they add to general vehicle.
registrations.” BEV market share control on the two coasts is attributed to.
their greater mix of early adopters compared to purchasers 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 standard BEV buyer.
than the middle-American profile.” But Libby sees prospective for EV approval in top heartland.
markets: “More approval and much more comprehensive 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,.
this special report.) Supporting the EV development, item exposes surrounding the.
Los Angeles Auto Show recently continue to reflect the OEM.
focus.According to Stephanie Brinley, associate director of.
AutoIntelligence at S&P Global Mobility, “As auto shows at.
their best emphasize what people will be driving in coming years,.
the reveals during the Los Angeles Auto Show show the continuing.
push towards electrical and amazed automobiles.” Of note, Fiat revealed 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 rendering of the bZ (” Beyond Zero”).
electric-vehicle concept, previewing a forthcoming compact SUV.
Vietnamese entrant VinFast revealed U.S.-trim variations of.
two EV crossover additions to its lineup – bringing its capacity.
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.