This article was published by S&P Global Mobility and not by S&P Global Ratings, which is an individually handled department of S&P Global.

Continuous economic headwinds suggest no news could be good news
relating to car demand levelsWith volume for the month projected at 1.122 million systems,
November U.S. automobile sales are estimated to equate to an approximated
sales speed of 14.1 million systems (seasonally changed annual rate:
SAAR). This would represent a continual improvement from the May
through September duration but will show a decline from Octobers.
14.9 million-unit rate, according to S&P Global Mobility.
analysis.The day-to-day selling rate metric in November (roughly 44-45K.
per day) would be in-line with levels because September. Translation:.
From a non-seasonally adjusted volume perspective, automobile sales.
continue to plug along at a constant rate.” Sales ought to continue to improve, provided the expected continual,.
however mild, improvement in total production and stock levels,”.
stated Chris Hopson, primary analyst at S&P Global Mobility.
” However, we also continue to keep an eye on for signals of.
faster-than-expected development in stock. Currently, there are no.
clear signs; stocks have advanced as prepared for. Any.
sign of faster than forecasted growth in the total stock of.
new lorries could indicate that car customers are feeling the.
pressure of the present financial headwinds and pulling away from the.
market.” As a result, Octobers SAAR increase 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 vehicles 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 coastal states and.
represent 50.5% of total EV registrations up until now in 2022 (through.
August). The higher Los Angeles and San Francisco urbane.
locations alone account for almost one-third of overall 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 general car.
registrations.” BEV market share control on the 2 coasts is credited to.
their higher mix of early adopters compared to purchasers 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 conventional BEV purchaser.
than the middle-American profile.” But Libby sees potential for EV approval in leading heartland.
markets: “More approval and much broader 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,.
please see.
this unique report.) Supporting the EV advancement, item 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 vehicle programs at.
their best emphasize what individuals will be driving in coming years,.
the reveals throughout the Los Angeles Auto Show show 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 expose of the 2023 Prius hybrid included a.
Prime trim that will double the hatchbacks EV-only variety, while.
the car manufacturer also showed a making of the bZ (” Beyond Zero”).
electric-vehicle idea, previewing a forthcoming compact SUV.
Meanwhile, Vietnamese entrant VinFast revealed U.S.-trim variations of.
two EV crossover additions to its lineup – bringing its capacity.
US offerings to 4.