This short 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.

Ongoing economic headwinds mean no news could be excellent news
relating to vehicle demand levelsWith volume for the month forecasted at 1.122 million systems,
November U.S. car sales are approximated to translate to an estimated
sales rate of 14.1 million systems (seasonally adjusted annual rate:
SAAR). This would represent a sustained enhancement from the May
through September period but will show a decline from Octobers.
14.9 million-unit speed, according to S&P Global Mobility.
analysis.The everyday selling rate metric in November (around 44-45K.
each day) would be in-line with levels because September. Translation:.
From a non-seasonally adjusted volume perspective, automobile sales.
continue to plug along at a consistent speed.” Sales should continue to enhance, offered the expected continual,.
Moderate, improvement in overall production and inventory levels,”.
said Chris Hopson, principal expert at S&P Global Mobility.
” However, we likewise continue to monitor for signals of.
faster-than-expected development in stock. Presently, there are no.
clear indications; stocks have advanced as prepared for. Any.
indication of faster than forecasted development in the general stock of.
brand-new automobiles could imply that vehicle consumers are feeling the.
pressure of the current financial headwinds and retreating 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 results.
beginning in early 2023. Market share of battery-electric cars is expected 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 United States are all in coastal states and.
represent 50.5% of overall EV registrations up until now in 2022 (through.
August). The higher Los Angeles and San Francisco metropolitan.
areas alone account for nearly one-third of overall share of the US.
EV market. On the other hand the Heartland states market share of EV sales.
is barely half of what they add to total car.
registrations.” BEV market share control on the two coasts is attributed to.
their higher mix of early adopters compared to purchasers in middle.
America,” said Tom Libby, associate director of Loyalty Solutions.
and Industry Analysis at S&P Global Mobility. “Their.
market profile is more in sync with the standard BEV purchaser.
than the middle-American profile.” But Libby sees prospective for EV approval in leading heartland.
markets: “More acceptance and much more comprehensive 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 special 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 vehicle shows at.
their best 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 variation of the European.
500 EV to the U.S. starting 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 automaker also revealed a making of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing a forthcoming compact SUV.
Vietnamese entrant VinFast revealed U.S.-trim variations of.
two EV crossover additions to its lineup – bringing its capacity.
US offerings to four.