This post was published by S&P Global Mobility and not by S&P Global Ratings, which is an individually managed division of S&P Global.
Continuous financial headwinds imply no news could be excellent news
concerning auto demand levelsWith volume for the month forecasted at 1.122 million systems,
November U.S. automobile sales are estimated to translate to an approximated
sales rate of 14.1 million units (seasonally changed annual rate:
SAAR). This would represent a continual enhancement from the May
through September period but will show a decline from Octobers.
14.9 million-unit pace, according to S&P Global Mobility.
analysis.The day-to-day selling rate metric in November (approximately 44-45K.
daily) would be in-line with levels considering that September. Translation:.
From a non-seasonally adjusted volume perspective, automobile sales.
continue to plug along at a stable speed.” Sales need to continue to enhance, offered the anticipated sustained,.
Moderate, improvement in overall production and inventory levels,”.
stated 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 inventory. Currently, there are no.
clear signs; stocks have advanced as prepared for. Any.
indication of faster than predicted growth in the total stock of.
brand-new lorries could indicate that vehicle customers are feeling the.
pressure of the existing financial headwinds and pulling away from the.
market.” As a result, Octobers SAAR increase is likely to be an anomaly.
compared to the rest of the year, Hopson said, including that.
there are expectations of volatility in the regular monthly results.
starting in early 2023. Market share of battery-electric automobiles is anticipated to reach.
5.9% in November. Nevertheless, outside of the large 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 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 cosmopolitan.
locations alone represent nearly one-third of total share of the US.
EV market. The Heartland states market share of EV sales.
is barely half of what they contribute to total car.
registrations.” BEV market share control on the two coasts is credited to.
their greater 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.
demographic 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 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,.
this special report.) Supporting the EV improvement, product exposes 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 car shows at.
their finest emphasize what people will be driving in coming years,.
the reveals throughout the Los Angeles Auto Show reflect the continuing.
push towards electric and amazed vehicles.” Of note, Fiat announced it will bring a version 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 automaker also showed a making of the bZ (” Beyond Zero”).
electric-vehicle idea, previewing a forthcoming compact SUV.
Vietnamese entrant VinFast revealed U.S.-trim variations of.
2 EV crossover additions to its lineup – bringing its capacity.
US offerings to 4.