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 imply no news could be good news
relating to car demand levelsWith volume for the month predicted at 1.122 million units,
November U.S. car sales are approximated to translate to an estimated
sales rate of 14.1 million units (seasonally adjusted yearly rate:
SAAR). This would represent a sustained improvement 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 (approximately 44-45K.
per day) would be in-line with levels because September. Translation:.
From a non-seasonally adjusted volume viewpoint, car sales.
continue to plug along at a consistent rate.” Sales need to continue to enhance, provided the expected sustained,.
Mild, improvement in general production and inventory levels,”.
said Chris Hopson, primary analyst at S&P Global Mobility.
” However, we likewise continue to keep an eye on for signals of.
faster-than-expected development in stock. Currently, there are no.
clear indications; stocks have advanced as anticipated. Any.
sign of faster than forecasted growth in the total stock of.
brand-new lorries could imply that auto consumers are feeling the.
pressure of the current economic headwinds and pulling back from the.
market.” As a result, Octobers SAAR increase is likely to be an anomaly.
compared to the rest of the year, Hopson said, adding that.
there are expectations of volatility in the monthly outcomes.
starting in early 2023. Market share of battery-electric cars is anticipated to reach.
5.9% in November. However, 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 total EV registrations so far in 2022 (through.
August). The greater Los Angeles and San Francisco urban.
areas alone represent almost one-third of total share of the US.
EV market. Meanwhile the Heartland states market share of EV sales.
is hardly half of what they contribute to overall lorry.
registrations.” BEV market share control on the 2 coasts is associated 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.
group profile is more in sync with the conventional BEV purchaser.
than the middle-American profile.” But Libby sees possible for EV approval in top heartland.
markets: “More acceptance and much more comprehensive customer awareness is.
leading to 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 advancement, product exposes 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 programs at.
their finest highlight what individuals will be driving in coming years,.
the reveals during the Los Angeles Auto Show reflect the continuing.
push towards electrical and energized vehicles.” Of note, Fiat revealed it will bring a variation of the European.
500 EV to the U.S. beginning in early 2024, reviving the 500e.
nameplate. Toyotas expose of the 2023 Prius hybrid included 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 a forthcoming compact SUV.
Vietnamese entrant VinFast showed U.S.-trim variations of.
2 EV crossover additions to its lineup – bringing its capacity.
United States offerings to 4.