Ongoing economic headwinds imply no news could be great news
concerning vehicle demand levelsWith volume for the month projected at 1.122 million systems,
November U.S. auto sales are estimated to equate to an estimated
sales speed of 14.1 million systems (seasonally changed annual rate:
SAAR). This would represent a continual enhancement from the May
through September duration however will show a decrease from Octobers.
14.9 million-unit speed, according to S&P Global Mobility.
analysis.The daily selling rate metric in November (roughly 44-45K.
each 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 stable speed.” Sales need to continue to enhance, given the anticipated continual,.
Mild, development in total production and stock levels,”.
said Chris Hopson, primary expert at S&P Global Mobility.
” However, we also continue to keep an eye on for signals of.
faster-than-expected growth in stock. Currently, there are no.
clear indications; stocks have advanced as anticipated. But any.
indicator of faster than projected growth in the overall stock of.
new cars might imply that automobile consumers are feeling the.
pressure of the current financial headwinds and pulling away from the.
market.” As a result, Octobers SAAR boost is most likely to be an anomaly.
compared to the remainder of the year, Hopson stated, including that.
there are expectations of volatility in the month-to-month outcomes.
beginning in early 2023. Market share of battery-electric cars is expected to reach.
5.9% in November. Outside of 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 coastal states and.
represent 50.5% of overall EV registrations so far in 2022 (through.
August). The higher Los Angeles and San Francisco urbane.
locations alone account for nearly one-third of overall share of the United States.
EV market. Meanwhile the Heartland states market share of EV sales.
is hardly half of what they contribute to total vehicle.
registrations.” BEV market share control on the two coasts is attributed to.
their higher mix of early adopters compared to buyers 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 conventional BEV buyer.
than the middle-American profile.” But Libby sees possible for EV acceptance in top heartland.
markets: “More acceptance and much wider customer 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,.
please see.
this unique report.) Supporting the EV development, 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 auto programs at.
their finest highlight what people will be driving in coming years,.
the exposes during the Los Angeles Auto Show reflect the continuing.
push towards electrical and amazed automobiles.” Of note, Fiat revealed it will bring a variation of the European.
500 EV to the U.S. beginning in early 2024, reviving the 500e.
nameplate. Toyotas expose of the 2023 Prius hybrid consisted of a.
Prime trim that will double the hatchbacks EV-only range, while.
the car manufacturer also revealed a making of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing a forthcoming compact SUV.
Vietnamese entrant VinFast revealed U.S.-trim versions of.
two EV crossover additions to its lineup – bringing its potential.
US offerings to 4.

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