This short article was released by S&P Global Mobility and not by S&P Global Ratings, which is an independently handled division of S&P Global.

Ongoing financial headwinds imply no news could be excellent news
concerning auto demand levelsWith volume for the month predicted at 1.122 million systems,
November U.S. car sales are approximated to translate to an approximated
sales rate of 14.1 million systems (seasonally changed annual rate:
SAAR). This would represent a sustained enhancement from the May
through September period however will show a decrease from Octobers.
14.9 million-unit speed, according to S&P Global Mobility.
analysis.The daily selling rate metric in November (roughly 44-45K.
each day) would be in-line with levels since September. Translation:.
From a non-seasonally adjusted volume perspective, car sales.
continue to plug along at a constant speed.” Sales should continue to improve, provided the expected continual,.
Moderate, advancement in overall production and inventory levels,”.
stated Chris Hopson, principal expert at S&P Global Mobility.
” However, we likewise continue to keep track of for signals of.
faster-than-expected growth in inventory. Currently, there are no.
clear signs; inventories have advanced as anticipated. But any.
indicator of faster than projected development in the total stock of.
new vehicles might suggest that automobile customers are feeling the.
pressure of the existing economic headwinds and pulling back from the.
market.” As an outcome, Octobers SAAR increase is likely to be an abnormality.
compared to the remainder of the year, Hopson said, including 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. However, beyond 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 seaside states and.
represent 50.5% of total EV registrations up until now in 2022 (through.
August). The higher Los Angeles and San Francisco urban.
areas alone represent almost one-third of total share of the US.
EV market. The Heartland states market share of EV sales.
is hardly half of what they add to general vehicle.
registrations.” BEV market share control on the 2 coasts is credited 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.
group profile is more in sync with the standard BEV purchaser.
than the middle-American profile.” But Libby sees potential for EV acceptance in leading heartland.
markets: “More approval and much broader 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 special report.) Supporting the EV improvement, 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 automobile programs at.
their finest emphasize what individuals will be driving in coming years,.
the exposes throughout the Los Angeles Auto Show show the continuing.
push toward electrical and electrified vehicles.” Of note, Fiat announced it will bring a variation 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 trim that will double the hatchbacks EV-only range, while.
the automaker also showed a rendering of the bZ (” Beyond Zero”).
electric-vehicle principle, 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 capacity.
US offerings to four.