Continuous financial headwinds imply no news could be good news
concerning automobile need levelsWith volume for the month predicted at 1.122 million units,
November U.S. auto sales are estimated to translate to an estimated
sales rate of 14.1 million systems (seasonally changed yearly rate:
SAAR). This would represent a sustained improvement from the May
through September period but will show a decrease from Octobers.
14.9 million-unit pace, according to S&P Global Mobility.
analysis.The everyday selling rate metric in November (approximately 44-45K.
each day) would be in-line with levels since September. Translation:.
From a non-seasonally adjusted volume perspective, automobile sales.
continue to plug along at a stable rate.” Sales should continue to enhance, offered the expected sustained,.
Mild, development in total production and stock levels,”.
said Chris Hopson, primary analyst at S&P Global Mobility.
” However, we also continue to monitor for signals of.
faster-than-expected growth in inventory. Currently, there are no.
clear signs; stocks have actually advanced as anticipated. Any.
indication of faster than projected development in the total stock of.
new vehicles could mean that automobile customers are feeling the.
pressure of the existing financial headwinds and pulling away from the.
market.” As a result, Octobers SAAR boost is likely to be an abnormality.
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 vehicles is anticipated 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 US are all in seaside states and.
represent 50.5% of overall EV registrations up until now in 2022 (through.
August). The higher Los Angeles and San Francisco urban.
locations alone represent almost one-third of total share of the US.
EV market. 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 purchasers 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 buyer.
than the middle-American profile.” But Libby sees prospective for EV approval in leading 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 special report.) Supporting the EV advancement, product exposes surrounding the.
Los Angeles Auto Show last week continue to reflect the OEM.
focus.According to Stephanie Brinley, associate director of.
AutoIntelligence at S&P Global Mobility, “As auto shows at.
their best highlight what individuals will be driving in coming years,.
the reveals throughout the Los Angeles Auto Show show the continuing.
push toward electrical and energized cars.” 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 trim that will double the hatchbacks EV-only variety, while.
the automaker likewise revealed a making of the bZ (” Beyond Zero”).
electric-vehicle concept, previewing a forthcoming compact SUV.
Meanwhile, Vietnamese entrant VinFast showed U.S.-trim variations of.
2 EV crossover additions to its lineup – bringing its capacity.
United States offerings to four.

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