This article 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 suggest no news might be excellent news
regarding vehicle need levelsWith volume for the month predicted at 1.122 million units,
November U.S. auto sales are approximated to equate to an estimated
sales pace of 14.1 million units (seasonally adjusted annual rate:
SAAR). This would represent a sustained improvement from the May
through September period but will reflect a decline from Octobers.
14.9 million-unit rate, 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 considering that September. Translation:.
From a non-seasonally adjusted volume standpoint, auto sales.
continue to plug along at a stable rate.” Sales need to continue to improve, provided the expected continual,.
however mild, development in overall production and inventory 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 stock. Presently, there are no.
clear signs; inventories have advanced as expected. But any.
sign of faster than predicted development in the general stock of.
brand-new cars could suggest that auto consumers are feeling the.
pressure of the present financial headwinds and pulling away from the.
market.” As an outcome, Octobers SAAR boost is most likely to be an anomaly.
compared to the remainder 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 vehicles is anticipated to reach.
5.9% in November. Nevertheless, outside of the large 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 coastal states and.
represent 50.5% of total EV registrations so far in 2022 (through.
August). The greater Los Angeles and San Francisco cosmopolitan.
areas alone account for almost one-third of overall share of the United States.
EV market. Meanwhile the Heartland states market share of EV sales.
is barely half of what they add to overall automobile.
registrations.” BEV market share control on the two 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.
group profile is more in sync with the conventional BEV purchaser.
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 development, 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 shows at.
their best emphasize what people will be driving in coming years,.
the reveals during the Los Angeles Auto Show show the continuing.
push toward electrical and energized automobiles.” 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 car manufacturer also revealed a rendering of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing an upcoming compact SUV.
Vietnamese entrant VinFast showed U.S.-trim variations of.
two EV crossover additions to its lineup – bringing its potential.
United States offerings to four.