Continuous economic headwinds indicate no news might be great news
concerning car need levelsWith volume for the month projected at 1.122 million units,
November U.S. automobile sales are estimated to translate to an approximated
sales rate of 14.1 million systems (seasonally changed annual rate:
SAAR). This would represent a sustained improvement from the May
through September period however will show a decrease from Octobers.
14.9 million-unit rate, according to S&P Global Mobility.
analysis.The everyday selling rate metric in November (around 44-45K.
per day) would be in-line with levels because September. Translation:.
From a non-seasonally adjusted volume standpoint, automobile sales.
continue to plug along at a steady rate.” Sales should continue to improve, offered the expected continual,.
Mild, improvement in total production and inventory levels,”.
said Chris Hopson, principal analyst at S&P Global Mobility.
” However, we also continue to monitor for signals of.
faster-than-expected growth in stock. Currently, there are no.
clear signs; inventories have advanced as expected. Any.
sign of faster than forecasted growth in the overall stock of.
brand-new vehicles might suggest that vehicle 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 said, including that.
there are expectations of volatility in the monthly results.
beginning in early 2023. Market share of battery-electric lorries is anticipated to reach.
5.9% in November. Nevertheless, 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 US are all in coastal states and.
represent 50.5% of total EV registrations up until now in 2022 (through.
August). The higher Los Angeles and San Francisco urbane.
areas alone account for almost one-third of total share of the United States.
EV market. The Heartland states market share of EV sales.
is barely half of what they add to overall vehicle.
registrations.” BEV market share control on the 2 coasts is credited 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 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 special report.) Supporting the EV development, item 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 programs at.
their best highlight what individuals will be driving in coming years,.
the reveals throughout the Los Angeles Auto Show show the continuing.
push toward electric and energized lorries.” Of note, Fiat announced it will bring a variation of the European.
500 EV to the U.S. beginning in early 2024, reviving the 500e.
nameplate. Toyotas reveal of the 2023 Prius hybrid consisted of a.
Prime trim that will double the hatchbacks EV-only variety, while.
the car manufacturer likewise showed a rendering of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing a forthcoming compact SUV.
Vietnamese entrant VinFast revealed U.S.-trim variations of.
two EV crossover additions to its lineup – bringing its capacity.
US offerings to four.

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