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.
Ongoing financial headwinds suggest no news could be excellent news
regarding auto demand levelsWith volume for the month forecasted at 1.122 million systems,
November U.S. car sales are estimated to translate to an estimated
sales pace of 14.1 million units (seasonally adjusted annual rate:
SAAR). This would represent a sustained enhancement from the May
through September period but will reflect a decline from Octobers.
14.9 million-unit pace, according to S&P Global Mobility.
analysis.The daily selling rate metric in November (approximately 44-45K.
each day) would be in-line with levels because September. Translation:.
From a non-seasonally adjusted volume perspective, vehicle sales.
continue to plug along at a steady speed.” Sales need to continue to improve, provided the anticipated sustained,.
Moderate, development in overall production and stock levels,”.
said Chris Hopson, principal expert at S&P Global Mobility.
” However, we also continue to monitor for signals of.
faster-than-expected development in inventory. Presently, there are no.
clear signs; stocks have advanced as anticipated. Any.
sign of faster than forecasted growth in the overall stock of.
brand-new vehicles could suggest that auto consumers are feeling the.
pressure of the present economic headwinds and pulling away from the.
market.” As an outcome, Octobers SAAR boost is likely to be an abnormality.
compared to the rest of the year, Hopson stated, adding that.
there are expectations of volatility in the regular monthly results.
beginning in early 2023. Market share of battery-electric lorries 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 so far in 2022 (through.
August). The greater Los Angeles and San Francisco cosmopolitan.
locations alone account for nearly one-third of total share of the United States.
EV market. Meanwhile the Heartland states market share of EV sales.
is hardly half of what they add to total 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,” said Tom Libby, associate director of Loyalty Solutions.
and Industry Analysis at S&P Global Mobility. “Their.
demographic profile is more in sync with the standard BEV buyer.
than the middle-American profile.” But Libby sees potential for EV approval in leading heartland.
markets: “More approval and much broader 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,.
this special report.) Supporting the EV advancement, product reveals surrounding the.
Los Angeles Auto Show last week continue to show the OEM.
focus.According to Stephanie Brinley, associate director of.
AutoIntelligence at S&P Global Mobility, “As auto programs at.
their best highlight what people will be driving in coming years,.
the reveals during the Los Angeles Auto Show show the continuing.
push towards electric and amazed vehicles.” Of note, Fiat revealed it will bring a variation of the European.
500 EV to the U.S. beginning in early 2024, restoring the 500e.
nameplate. Toyotas expose of the 2023 Prius hybrid included a.
Prime trim that will double the hatchbacks EV-only variety, while.
the automaker likewise revealed a rendering of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing an upcoming compact SUV.
Vietnamese entrant VinFast revealed U.S.-trim variations of.
2 EV crossover additions to its lineup – bringing its potential.
US offerings to 4.