Continuous economic headwinds imply no news might be good news
relating to automobile demand levelsWith volume for the month projected at 1.122 million units,
November U.S. vehicle sales are estimated to translate to an approximated
sales pace of 14.1 million units (seasonally changed yearly rate:
SAAR). This would represent a sustained enhancement from the May
through September period however will reflect a decrease from Octobers.
14.9 million-unit pace, according to S&P Global Mobility.
analysis.The everyday selling rate metric in November (around 44-45K.
per day) would be in-line with levels considering that September. Translation:.
From a non-seasonally adjusted volume standpoint, vehicle sales.
continue to plug along at a consistent speed.” Sales must continue to improve, provided the anticipated sustained,.
Moderate, development in overall production and stock levels,”.
said Chris Hopson, primary analyst at S&P Global Mobility.
” However, we also continue to keep track of for signals of.
faster-than-expected growth in stock. Currently, there are no.
clear indications; inventories have actually advanced as prepared for. Any.
indicator of faster than forecasted development in the overall stock of.
new lorries might indicate that auto consumers are feeling the.
pressure of the existing economic headwinds and pulling back from the.
market.” As an outcome, Octobers SAAR increase is most likely to be an anomaly.
compared to the remainder of the year, Hopson stated, adding that.
there are expectations of volatility in the month-to-month outcomes.
starting in early 2023. Market share of battery-electric cars is expected 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 United States are all in seaside states and.
represent 50.5% of overall EV registrations up until now in 2022 (through.
August). The greater Los Angeles and San Francisco city.
areas alone account for nearly 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 contribute to overall lorry.
registrations.” BEV market share control on the two 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 standard BEV purchaser.
than the middle-American profile.” But Libby sees possible for EV acceptance in top heartland.
markets: “More acceptance and much broader consumer awareness is.
leading to 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 car shows at.
their finest highlight what individuals will be driving in coming years,.
the exposes throughout the Los Angeles Auto Show reflect the continuing.
push toward electrical and amazed lorries.” Of note, Fiat announced 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 variety, while.
the car manufacturer likewise revealed a rendering of the bZ (” Beyond Zero”).
electric-vehicle concept, previewing a forthcoming compact SUV.
Meanwhile, Vietnamese entrant VinFast revealed U.S.-trim variations of.
2 EV crossover additions to its lineup – bringing its potential.
US offerings to four.
This post was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately handled department of S&P Global.