Ongoing financial headwinds indicate no news could be good news
regarding auto demand levelsWith volume for the month predicted at 1.122 million units,
November U.S. auto sales are estimated to equate to an estimated
sales speed of 14.1 million units (seasonally adjusted annual rate:
SAAR). This would represent a continual enhancement from the May
through September duration but will show a decrease from Octobers.
14.9 million-unit speed, according to S&P Global Mobility.
analysis.The day-to-day selling rate metric in November (roughly 44-45K.
each day) would be in-line with levels given that September. Translation:.
From a non-seasonally adjusted volume viewpoint, car sales.
continue to plug along at a consistent rate.” Sales should continue to improve, given the expected sustained,.
Mild, improvement in general production and inventory levels,”.
stated Chris Hopson, principal analyst at S&P Global Mobility.
” However, we also continue to keep an eye on for signals of.
faster-than-expected development in inventory. Currently, there are no.
clear signs; inventories have advanced as expected. Any.
indicator of faster than projected development in the total stock of.
brand-new cars could imply that auto consumers are feeling the.
pressure of the existing financial headwinds and pulling back from the.
market.” As an outcome, Octobers SAAR boost is most likely to be an abnormality.
compared to the rest of the year, Hopson said, including that.
there are expectations of volatility in the monthly outcomes.
starting in early 2023. Market share of battery-electric automobiles is anticipated to reach.
5.9% in November. 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 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 metropolitan.
areas alone account for almost one-third of total share of the US.
EV market. On the other hand the Heartland states market share of EV sales.
is barely half of what they add to overall lorry.
registrations.” BEV market share control on the two coasts is credited to.
their higher 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.
demographic profile is more in sync with the conventional BEV purchaser.
than the middle-American profile.” But Libby sees potential for EV approval in leading heartland.
markets: “More approval and much wider customer awareness is.
resulting in a natural progression of adoption from the coasts to.
the Heartland.” (For more on this analysis of EVs in the Heartland,.
this unique report.) Supporting the EV improvement, product reveals surrounding the.
Los Angeles Auto Show last week 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 highlight what individuals will be driving in coming years,.
the reveals throughout the Los Angeles Auto Show show the continuing.
push toward electric and electrified vehicles.” Of note, Fiat announced it will bring a version of the European.
500 EV to the U.S. beginning in early 2024, reviving the 500e.
nameplate. Toyotas expose of the 2023 Prius hybrid included a.
Prime cut that will double the hatchbacks EV-only range, while.
the car manufacturer also showed a rendering of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing an upcoming compact SUV.
Vietnamese entrant VinFast showed U.S.-trim versions of.
2 EV crossover additions to its lineup – bringing its potential.
US offerings to 4.
This short article was published by S&P Global Mobility and not by S&P Global Ratings, which is an independently managed division of S&P Global.