This article was released by S&P Global Mobility and not by S&P Global Ratings, which is an individually managed division of S&P Global.

Ongoing economic headwinds indicate no news could be great news
regarding auto demand levelsWith volume for the month predicted at 1.122 million units,
November U.S. vehicle sales are approximated to equate to an approximated
sales pace of 14.1 million systems (seasonally changed yearly rate:
SAAR). This would represent a sustained enhancement from the May
through September duration but will show a decrease from Octobers.
14.9 million-unit rate, according to S&P Global Mobility.
analysis.The daily 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, car sales.
continue to plug along at a consistent pace.” Sales should continue to enhance, given the anticipated sustained,.
however moderate, development in total production and inventory 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 growth in stock. Presently, there are no.
clear indications; inventories have advanced as prepared for. But any.
indicator of faster than forecasted development in the general stock of.
new vehicles could mean that automobile customers are feeling the.
pressure of the present financial headwinds and pulling away from the.
market.” As a result, Octobers SAAR boost is likely to be an anomaly.
compared to the remainder of the year, Hopson said, adding that.
there are expectations of volatility in the month-to-month outcomes.
beginning in early 2023. Market share of battery-electric lorries is anticipated to reach.
5.9% in November. Nevertheless, beyond 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 seaside states and.
represent 50.5% of total EV registrations up until now in 2022 (through.
August). The higher Los Angeles and San Francisco metropolitan.
areas alone represent nearly one-third of overall share of the United States.
EV market. The Heartland states market share of EV sales.
is barely half of what they contribute to total vehicle.
registrations.” BEV market share control on the 2 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 buyer.
than the middle-American profile.” But Libby sees possible for EV acceptance in leading heartland.
markets: “More approval and much wider consumer 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,.
please see.
this special report.) Supporting the EV improvement, item reveals 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 programs at.
their finest highlight what individuals 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 revealed it will bring a version of the European.
500 EV to the U.S. starting in early 2024, restoring the 500e.
nameplate. Toyotas reveal of the 2023 Prius hybrid included a.
Prime cut that will double the hatchbacks EV-only range, while.
the car manufacturer likewise revealed a making of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing an upcoming compact SUV.
On the other hand, Vietnamese entrant VinFast revealed U.S.-trim versions of.
two EV crossover additions to its lineup – bringing its capacity.
US offerings to 4.