Continuous financial headwinds indicate no news could be excellent news
regarding vehicle demand levelsWith volume for the month projected at 1.122 million systems,
November U.S. automobile sales are estimated to equate to an estimated
sales speed of 14.1 million systems (seasonally adjusted annual rate:
SAAR). This would represent a continual improvement from the May
through September duration but will reflect a decline from Octobers.
14.9 million-unit rate, according to S&P Global Mobility.
analysis.The daily selling rate metric in November (around 44-45K.
each day) would be in-line with levels given that September. Translation:.
From a non-seasonally adjusted volume perspective, auto sales.
continue to plug along at a steady speed.” Sales need to continue to improve, given the expected continual,.
Mild, improvement in overall production and inventory levels,”.
stated Chris Hopson, primary analyst 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 advanced as expected. However any.
indication of faster than forecasted growth in the overall stock of.
new automobiles might indicate that vehicle customers are feeling the.
pressure of the current financial headwinds and pulling back from the.
market.” As a result, Octobers SAAR boost is most likely to be an anomaly.
compared to the rest of the year, Hopson stated, adding that.
there are expectations of volatility in the month-to-month outcomes.
starting in early 2023. Market share of battery-electric lorries is expected to reach.
5.9% in November. However, 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 overall EV registrations so far in 2022 (through.
August). The greater Los Angeles and San Francisco urbane.
locations alone represent 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 add to total automobile.
registrations.” BEV market share control on the 2 coasts is associated 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 possible for EV approval in leading heartland.
markets: “More approval and much more comprehensive 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 advancement, item 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 car shows at.
their finest highlight what individuals will be driving in coming years,.
the reveals throughout the Los Angeles Auto Show show the continuing.
push toward electric and energized cars.” 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 expose of the 2023 Prius hybrid consisted of a.
Prime cut that will double the hatchbacks EV-only range, while.
the car manufacturer also showed a rendering of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing an upcoming compact SUV.
Meanwhile, Vietnamese entrant VinFast showed U.S.-trim variations of.
two EV crossover additions to its lineup – bringing its potential.
United States offerings to four.

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