Ongoing economic headwinds suggest no news might be good news
concerning auto demand levelsWith volume for the month predicted at 1.122 million units,
November U.S. auto sales are approximated to equate to an approximated
sales speed of 14.1 million units (seasonally adjusted yearly rate:
SAAR). This would represent a continual improvement from the May
through September duration however will reflect a decrease from Octobers.
14.9 million-unit speed, according to S&P Global Mobility.
analysis.The day-to-day selling rate metric in November (approximately 44-45K.
each day) would be in-line with levels given that September. Translation:.
From a non-seasonally adjusted volume viewpoint, car sales.
continue to plug along at a constant pace.” Sales ought to continue to enhance, provided the expected continual,.
Mild, development in total production and stock levels,”.
stated Chris Hopson, principal expert at S&P Global Mobility.
” However, we likewise continue to monitor for signals of.
faster-than-expected development in inventory. Presently, there are no.
clear indications; stocks have advanced as prepared for. But any.
indication of faster than predicted development in the overall stock of.
new lorries might imply that automobile customers are feeling the.
pressure of the current economic headwinds and retreating from the.
market.” As an outcome, Octobers SAAR increase is most likely to be an anomaly.
compared to the rest of the year, Hopson stated, including that.
there are expectations of volatility in the month-to-month results.
beginning in early 2023. Market share of battery-electric lorries is anticipated to reach.
5.9% in November. Nevertheless, beyond 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 US 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 urban.
areas alone represent 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 contribute to total car.
registrations.” BEV market share control on the two 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.
market profile is more in sync with the traditional BEV buyer.
than the middle-American profile.” But Libby sees prospective for EV acceptance in top heartland.
markets: “More approval and much more comprehensive 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 improvement, 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 auto programs at.
their finest emphasize what people will be driving in coming years,.
the reveals during the Los Angeles Auto Show reflect the continuing.
push towards electric and amazed automobiles.” Of note, Fiat announced it will bring a version of the European.
500 EV to the U.S. starting in early 2024, restoring the 500e.
nameplate. Toyotas expose of the 2023 Prius hybrid consisted of a.
Prime trim that will double the hatchbacks EV-only variety, while.
the car manufacturer also showed a making of the bZ (” Beyond Zero”).
electric-vehicle concept, previewing a forthcoming compact SUV.
Vietnamese entrant VinFast showed U.S.-trim variations of.
2 EV crossover additions to its lineup – bringing its potential.
US offerings to four.

This post was released by S&P Global Mobility and not by S&P Global Ratings, which is a separately handled department of S&P Global.