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

Continuous financial headwinds indicate no news might be good news
relating to automobile need levelsWith volume for the month forecasted at 1.122 million units,
November U.S. vehicle sales are estimated to equate to an estimated
sales rate of 14.1 million units (seasonally adjusted annual rate:
SAAR). This would represent a sustained enhancement from the May
through September duration however will reflect a decline from Octobers.
14.9 million-unit rate, according to S&P Global Mobility.
analysis.The day-to-day selling rate metric in November (around 44-45K.
each day) would be in-line with levels because September. Translation:.
From a non-seasonally adjusted volume perspective, car sales.
continue to plug along at a steady speed.” Sales should continue to improve, given the anticipated sustained,.
however moderate, development in overall production and stock levels,”.
said 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 signs; inventories have advanced as anticipated. Any.
sign of faster than forecasted development in the total stock of.
new cars could suggest that auto customers are feeling the.
pressure of the present economic headwinds and retreating from the.
market.” As a result, 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 regular monthly results.
beginning in early 2023. Market share of battery-electric vehicles is expected to reach.
5.9% in November. Outside of 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 seaside states and.
represent 50.5% of overall EV registrations up until now in 2022 (through.
August). The higher Los Angeles and San Francisco urban.
locations alone represent nearly 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 contribute to general 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.
group profile is more in sync with the standard BEV purchaser.
than the middle-American profile.” But Libby sees potential for EV approval in leading heartland.
markets: “More acceptance and much broader customer awareness is.
leading to a natural development 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 last week continue to reflect the OEM.
focus.According to Stephanie Brinley, associate director of.
AutoIntelligence at S&P Global Mobility, “As automobile shows at.
their best highlight what individuals will be driving in coming years,.
the exposes during the Los Angeles Auto Show reflect the continuing.
push towards electrical and electrified vehicles.” Of note, Fiat announced 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 trim that will double the hatchbacks EV-only range, while.
the car manufacturer likewise revealed a rendering of the bZ (” Beyond Zero”).
electric-vehicle concept, previewing a forthcoming compact SUV.
On the other hand, Vietnamese entrant VinFast showed U.S.-trim versions of.
two EV crossover additions to its lineup – bringing its capacity.
US offerings to four.