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

Ongoing economic headwinds mean no news might be great news
regarding car need levelsWith volume for the month forecasted at 1.122 million systems,
November U.S. automobile sales are estimated to translate to an estimated
sales rate of 14.1 million units (seasonally adjusted annual rate:
SAAR). This would represent a continual enhancement from the May
through September period however will reflect a decrease from Octobers.
14.9 million-unit rate, according to S&P Global Mobility.
analysis.The everyday selling rate metric in November (roughly 44-45K.
daily) would be in-line with levels given that September. Translation:.
From a non-seasonally adjusted volume perspective, automobile sales.
continue to plug along at a consistent pace.” Sales need to continue to enhance, provided the anticipated continual,.
but moderate, improvement in total production and stock levels,”.
said Chris Hopson, primary analyst at S&P Global Mobility.
” However, we likewise continue to monitor for signals of.
faster-than-expected growth in inventory. Currently, there are no.
clear signs; inventories have advanced as anticipated. However any.
sign of faster than projected growth in the total stock of.
new vehicles might suggest that vehicle customers are feeling the.
pressure of the current financial headwinds and pulling away from the.
market.” As an outcome, Octobers SAAR boost is likely to be an abnormality.
compared to the remainder of the year, Hopson stated, including that.
there are expectations of volatility in the monthly outcomes.
starting in early 2023. Market share of battery-electric cars is expected to reach.
5.9% in November. Nevertheless, beyond 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 US are all in coastal states and.
represent 50.5% of total EV registrations up until now in 2022 (through.
August). The greater Los Angeles and San Francisco city.
locations alone account for nearly one-third of overall share of the US.
EV market. The Heartland states market share of EV sales.
is hardly half of what they contribute to general vehicle.
registrations.” BEV market share control on the two coasts is credited to.
their greater 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.
demographic profile is more in sync with the standard BEV purchaser.
than the middle-American profile.” But Libby sees prospective for EV approval in top heartland.
markets: “More acceptance and much broader 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 special report.) Supporting the EV development, product exposes 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 shows at.
their finest emphasize what individuals will be driving in coming years,.
the exposes throughout the Los Angeles Auto Show reflect the continuing.
push toward electrical and energized 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 expose of the 2023 Prius hybrid included a.
Prime cut that will double the hatchbacks EV-only variety, while.
the car manufacturer also showed a rendering of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing a forthcoming compact SUV.
Vietnamese entrant VinFast showed U.S.-trim versions of.
2 EV crossover additions to its lineup – bringing its capacity.
United States offerings to 4.