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

Continuous economic headwinds mean no news could be great news
regarding car need levelsWith volume for the month predicted at 1.122 million systems,
November U.S. automobile sales are approximated to translate to an estimated
sales speed of 14.1 million units (seasonally changed yearly rate:
SAAR). This would represent a continual enhancement from the May
through September duration however will show 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.
per day) would be in-line with levels considering that September. Translation:.
From a non-seasonally adjusted volume viewpoint, vehicle sales.
continue to plug along at a stable speed.” Sales should continue to improve, provided the anticipated continual,.
but moderate, development in total production and stock levels,”.
said Chris Hopson, principal expert 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; stocks have actually advanced as anticipated. However any.
sign of faster than projected development in the general stock of.
brand-new cars might mean that auto consumers are feeling the.
pressure of the current economic headwinds and pulling away from the.
market.” As a result, Octobers SAAR increase is most likely to be an abnormality.
compared to the remainder of the year, Hopson said, adding that.
there are expectations of volatility in the monthly results.
beginning in early 2023. Market share of battery-electric cars 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 coastal states and.
represent 50.5% of overall EV registrations so far in 2022 (through.
August). The higher Los Angeles and San Francisco cosmopolitan.
locations alone represent almost one-third of total share of the US.
EV market. On the other hand the Heartland states market share of EV sales.
is hardly half of what they add to general vehicle.
registrations.” BEV market share control on the 2 coasts is credited 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.
group profile is more in sync with the conventional BEV buyer.
than the middle-American profile.” But Libby sees possible for EV acceptance in leading heartland.
markets: “More acceptance and much wider customer awareness is.
leading to a natural progression 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 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 shows at.
their finest highlight what people will be driving in coming years,.
the exposes during the Los Angeles Auto Show show the continuing.
push toward electric and energized automobiles.” Of note, Fiat revealed it will bring a variation of the European.
500 EV to the U.S. starting 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 likewise revealed a rendering of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing an upcoming compact SUV.
On the other hand, Vietnamese entrant VinFast showed U.S.-trim variations of.
two EV crossover additions to its lineup – bringing its capacity.
United States offerings to 4.