This post was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.

Continuous economic headwinds imply no news could be great news
concerning car demand levelsWith volume for the month forecasted at 1.122 million systems,
November U.S. vehicle sales are approximated to translate to an approximated
sales speed of 14.1 million units (seasonally changed annual rate:
SAAR). This would represent a sustained enhancement from the May
through September duration but will show a decrease from Octobers.
14.9 million-unit rate, according to S&P Global Mobility.
analysis.The daily selling rate metric in November (roughly 44-45K.
per day) would be in-line with levels given that September. Translation:.
From a non-seasonally adjusted volume viewpoint, car sales.
continue to plug along at a consistent rate.” Sales need to continue to improve, provided the anticipated sustained,.
Moderate, development in general production and stock levels,”.
stated Chris Hopson, principal expert at S&P Global Mobility.
” However, we also continue to monitor for signals of.
faster-than-expected development in stock. Presently, there are no.
clear indications; inventories have actually advanced as prepared for. Any.
indicator of faster than projected growth in the overall stock of.
brand-new automobiles might imply that automobile customers are feeling the.
pressure of the existing economic headwinds and pulling back from the.
market.” As a result, Octobers SAAR increase is likely to be an abnormality.
compared to the rest of the year, Hopson stated, adding that.
there are expectations of volatility in the monthly outcomes.
beginning in early 2023. Market share of battery-electric automobiles is expected to reach.
5.9% in November. Outside of the big 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 so far in 2022 (through.
August). The greater Los Angeles and San Francisco cosmopolitan.
locations alone represent nearly one-third of total share of the US.
EV market. The Heartland states market share of EV sales.
is barely half of what they contribute to overall car.
registrations.” BEV market share control on the 2 coasts is credited to.
their greater 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.
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 approval and much wider customer awareness is.
resulting in a natural development 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 improvement, product exposes surrounding the.
Los Angeles Auto Show recently continue to show 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 exposes during the Los Angeles Auto Show show the continuing.
push toward electric and amazed 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 included a.
Prime cut that will double the hatchbacks EV-only variety, while.
the automaker also revealed a rendering of the bZ (” Beyond Zero”).
electric-vehicle concept, 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 potential.
US offerings to four.