This article was published by S&P Global Mobility and not by S&P Global Ratings, which is an individually handled department of S&P Global.

Continuous economic headwinds suggest no news might be excellent news
regarding vehicle demand levelsWith volume for the month forecasted at 1.122 million units,
November U.S. car sales are estimated to translate to an estimated
sales pace of 14.1 million units (seasonally adjusted yearly 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 rate, according to S&P Global Mobility.
analysis.The daily selling rate metric in November (approximately 44-45K.
per day) would be in-line with levels given that September. Translation:.
From a non-seasonally adjusted volume viewpoint, auto sales.
continue to plug along at a steady speed.” Sales need to continue to enhance, offered the expected continual,.
Mild, improvement in general production and inventory levels,”.
stated Chris Hopson, principal analyst at S&P Global Mobility.
” However, we also continue to keep an eye on for signals of.
faster-than-expected growth in stock. Presently, there are no.
clear signs; inventories have advanced as anticipated. Any.
sign of faster than forecasted development in the overall stock of.
new lorries could mean that auto consumers are feeling the.
pressure of the current economic headwinds and pulling away from the.
market.” As an outcome, Octobers SAAR increase is likely to be an abnormality.
compared to the remainder of the year, Hopson said, adding that.
there are expectations of volatility in the regular monthly outcomes.
starting in early 2023. Market share of battery-electric cars is anticipated to reach.
5.9% in November. However, beyond 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 higher Los Angeles and San Francisco city.
areas alone account for 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 add to overall lorry.
registrations.” BEV market share control on the two coasts is associated 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.
demographic profile is more in sync with the conventional BEV purchaser.
than the middle-American profile.” But Libby sees possible for EV acceptance in leading heartland.
markets: “More acceptance and much wider consumer 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 improvement, product exposes 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 auto shows 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 electric and energized vehicles.” Of note, Fiat announced it will bring a version of the European.
500 EV to the U.S. beginning in early 2024, restoring the 500e.
nameplate. Toyotas reveal of the 2023 Prius hybrid consisted of a.
Prime cut that will double the hatchbacks EV-only range, while.
the automaker likewise showed a making of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing an upcoming compact SUV.
On the other hand, Vietnamese entrant VinFast showed U.S.-trim versions of.
2 EV crossover additions to its lineup – bringing its potential.
United States offerings to 4.