Continuous economic headwinds imply no news might be excellent news
concerning car need levelsWith volume for the month predicted at 1.122 million systems,
November U.S. automobile sales are estimated to translate to an approximated
sales speed of 14.1 million units (seasonally adjusted yearly rate:
SAAR). This would represent a continual improvement from the May
through September duration however 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.
per day) would be in-line with levels since September. Translation:.
From a non-seasonally adjusted volume perspective, vehicle sales.
continue to plug along at a steady speed.” Sales should continue to improve, offered the expected continual,.
but mild, development in overall production and stock levels,”.
stated Chris Hopson, primary expert at S&P Global Mobility.
” However, we also continue to monitor for signals of.
faster-than-expected development in inventory. Presently, there are no.
clear signs; inventories have actually advanced as prepared for. Any.
indicator of faster than predicted growth in the overall stock of.
new vehicles could suggest that car customers are feeling the.
pressure of the present financial headwinds and pulling back from the.
market.” As a result, Octobers SAAR boost is likely to be an anomaly.
compared to the remainder of the year, Hopson stated, including that.
there are expectations of volatility in the regular monthly results.
starting in early 2023. Market share of battery-electric vehicles is anticipated to reach.
5.9% in November. However, 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 United States are all in seaside states and.
represent 50.5% of overall EV registrations so far in 2022 (through.
August). The greater Los Angeles and San Francisco cosmopolitan.
areas alone represent almost one-third of overall share of the US.
EV market. The Heartland states market share of EV sales.
is barely half of what they contribute to general automobile.
registrations.” BEV market share control on the two coasts is attributed 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.
market profile is more in sync with the traditional BEV purchaser.
than the middle-American profile.” But Libby sees potential for EV approval in leading heartland.
markets: “More acceptance and much broader consumer 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, product reveals 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 car programs at.
their best highlight what individuals will be driving in coming years,.
the exposes during the Los Angeles Auto Show show the continuing.
push toward electrical and energized 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 range, while.
the car manufacturer also showed a rendering of the bZ (” Beyond Zero”).
electric-vehicle idea, previewing a forthcoming compact SUV.
Vietnamese entrant VinFast revealed U.S.-trim variations of.
two EV crossover additions to its lineup – bringing its potential.
US offerings to four.

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