Ongoing financial headwinds mean no news might be great news
concerning vehicle demand levelsWith volume for the month predicted at 1.122 million systems,
November U.S. auto sales are approximated to equate to an estimated
sales pace of 14.1 million units (seasonally adjusted annual rate:
SAAR). This would represent a continual enhancement from the May
through September duration but will reflect a decrease from Octobers.
14.9 million-unit speed, 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 since September. Translation:.
From a non-seasonally adjusted volume standpoint, vehicle sales.
continue to plug along at a steady pace.” Sales ought to continue to improve, offered the anticipated continual,.
Mild, improvement in total production and stock levels,”.
said Chris Hopson, principal expert at S&P Global Mobility.
” However, we likewise continue to keep an eye on for signals of.
faster-than-expected growth in inventory. Currently, there are no.
clear indications; inventories have advanced as expected. However any.
indication of faster than forecasted development in the overall stock of.
new vehicles might indicate that car customers are feeling the.
pressure of the present economic headwinds and pulling back from the.
market.” As an outcome, Octobers SAAR boost is most likely to be an abnormality.
compared to the remainder of the year, Hopson stated, adding that.
there are expectations of volatility in the monthly results.
beginning in early 2023. Market share of battery-electric vehicles 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 United States 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 cosmopolitan.
areas alone account for nearly one-third of overall share of the US.
EV market. The Heartland states market share of EV sales.
is barely half of what they add to overall automobile.
registrations.” BEV market share control on the two coasts is credited to.
their higher mix of early adopters compared to purchasers 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 buyer.
than the middle-American profile.” But Libby sees potential for EV acceptance in top heartland.
markets: “More acceptance and much wider customer awareness is.
resulting in 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 development, product reveals 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 finest emphasize what people will be driving in coming years,.
the exposes throughout the Los Angeles Auto Show show the continuing.
push towards electrical and energized vehicles.” 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 consisted of a.
Prime trim that will double the hatchbacks EV-only variety, while.
the car manufacturer likewise revealed a making of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing an upcoming compact SUV.
Meanwhile, Vietnamese entrant VinFast showed U.S.-trim versions of.
two EV crossover additions to its lineup – bringing its potential.
US offerings to four.

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