Ongoing economic headwinds suggest no news could be good news
regarding car need levelsWith volume for the month predicted at 1.122 million units,
November U.S. car sales are approximated to equate to an estimated
sales pace of 14.1 million units (seasonally changed annual rate:
SAAR). This would represent a sustained improvement from the May
through September duration however will reflect a decline from Octobers.
14.9 million-unit pace, according to S&P Global Mobility.
analysis.The everyday selling rate metric in November (approximately 44-45K.
daily) would be in-line with levels because September. Translation:.
From a non-seasonally adjusted volume viewpoint, car sales.
continue to plug along at a constant speed.” Sales should continue to improve, offered the anticipated sustained,.
Moderate, advancement in overall production and inventory levels,”.
said Chris Hopson, principal expert at S&P Global Mobility.
” However, we also continue to monitor for signals of.
faster-than-expected development in inventory. Currently, there are no.
clear indications; stocks have actually advanced as expected. However any.
indication of faster than forecasted growth in the overall stock of.
brand-new lorries could mean that vehicle 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 abnormality.
compared to the rest of the year, Hopson said, including that.
there are expectations of volatility in the regular monthly outcomes.
beginning in early 2023. Market share of battery-electric automobiles is expected to reach.
5.9% in November. Nevertheless, 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 coastal states and.
represent 50.5% of total EV registrations up until now in 2022 (through.
August). The greater Los Angeles and San Francisco urbane.
locations alone represent nearly one-third of overall share of the United States.
EV market. Meanwhile the Heartland states market share of EV sales.
is barely half of what they contribute to overall lorry.
registrations.” BEV market share control on the 2 coasts is associated to.
their greater 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 conventional BEV purchaser.
than the middle-American profile.” But Libby sees possible for EV approval in leading heartland.
markets: “More acceptance and much broader consumer 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 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 programs at.
their best highlight what people will be driving in coming years,.
the reveals during the Los Angeles Auto Show reflect the continuing.
push towards electrical and amazed vehicles.” Of note, Fiat revealed it will bring a version of the European.
500 EV to the U.S. beginning 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 car manufacturer likewise showed 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 potential.
US offerings to 4.

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