Ongoing economic headwinds suggest no news might be excellent news
regarding car demand levelsWith volume for the month projected at 1.122 million units,
November U.S. automobile sales are approximated to translate to an approximated
sales pace of 14.1 million units (seasonally changed annual rate:
SAAR). This would represent a sustained enhancement 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.
per day) would be in-line with levels given that September. Translation:.
From a non-seasonally adjusted volume viewpoint, automobile sales.
continue to plug along at a constant rate.” Sales must continue to enhance, offered the anticipated sustained,.
Moderate, advancement in overall production and stock levels,”.
stated 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; stocks have actually advanced as anticipated. Any.
sign of faster than predicted development in the general stock of.
new vehicles might indicate that vehicle customers are feeling the.
pressure of the current economic headwinds and pulling back from the.
market.” As an outcome, Octobers SAAR increase is most likely to be an anomaly.
compared to the rest of the year, Hopson stated, including that.
there are expectations of volatility in the month-to-month outcomes.
starting in early 2023. Market share of battery-electric automobiles is expected to reach.
5.9% in November. Nevertheless, outside of 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 coastal states and.
represent 50.5% of overall EV registrations so far in 2022 (through.
August). The greater Los Angeles and San Francisco city.
areas alone account for nearly one-third of total share of the US.
EV market. The Heartland states market share of EV sales.
is hardly half of what they add to overall automobile.
registrations.” BEV market share control on the 2 coasts is attributed 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 traditional BEV purchaser.
than the middle-American profile.” But Libby sees possible for EV acceptance in leading heartland.
markets: “More approval and much more comprehensive consumer 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 car shows at.
their finest highlight what people will be driving in coming years,.
the exposes throughout the Los Angeles Auto Show show the continuing.
push towards electric and amazed cars.” Of note, Fiat announced it will bring a version of the European.
500 EV to the U.S. beginning in early 2024, reviving 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 also showed a rendering of the bZ (” Beyond Zero”).
electric-vehicle concept, previewing an upcoming compact SUV.
On the other hand, Vietnamese entrant VinFast revealed U.S.-trim variations of.
two EV crossover additions to its lineup – bringing its potential.
United States offerings to four.

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