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

Continuous economic headwinds indicate no news could be good news
concerning vehicle demand levelsWith volume for the month forecasted at 1.122 million systems,
November U.S. vehicle sales are estimated to translate to an approximated
sales rate of 14.1 million units (seasonally adjusted yearly 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.
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 must continue to enhance, given the expected sustained,.
Moderate, improvement in total production and inventory levels,”.
said Chris Hopson, principal analyst at S&P Global Mobility.
” However, we likewise continue to keep an eye on for signals of.
faster-than-expected growth in stock. Presently, there are no.
clear signs; stocks have advanced as anticipated. Any.
sign of faster than forecasted growth in the general stock of.
brand-new cars could mean that automobile consumers are feeling the.
pressure of the existing financial headwinds and retreating from the.
market.” As a result, Octobers SAAR increase is likely to be an abnormality.
compared to the remainder of the year, Hopson stated, adding that.
there are expectations of volatility in the month-to-month outcomes.
beginning in early 2023. Market share of battery-electric vehicles is anticipated to reach.
5.9% in November. Outside of the big 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 urban.
areas alone account for nearly one-third of total share of the United States.
EV market. On the other hand the Heartland states market share of EV sales.
is barely half of what they add 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.
demographic profile is more in sync with the traditional BEV buyer.
than the middle-American profile.” But Libby sees potential for EV approval in top heartland.
markets: “More approval 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 advancement, product reveals surrounding the.
Los Angeles Auto Show recently continue to reflect the OEM.
focus.According to Stephanie Brinley, associate director of.
AutoIntelligence at S&P Global Mobility, “As car programs at.
their best highlight what people will be driving in coming years,.
the exposes throughout the Los Angeles Auto Show reflect the continuing.
push towards electric and amazed cars.” Of note, Fiat revealed 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 consisted of a.
Prime cut that will double the hatchbacks EV-only variety, while.
the car manufacturer also revealed a making of the bZ (” Beyond Zero”).
electric-vehicle idea, previewing an upcoming compact SUV.
Vietnamese entrant VinFast showed U.S.-trim versions of.
two EV crossover additions to its lineup – bringing its capacity.
US offerings to four.