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

Continuous economic headwinds suggest no news could be good news
regarding automobile demand levelsWith volume for the month projected at 1.122 million units,
November U.S. car sales are estimated to translate to an approximated
sales rate of 14.1 million units (seasonally changed annual rate:
SAAR). This would represent a sustained improvement from the May
through September duration 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.
per day) would be in-line with levels since September. Translation:.
From a non-seasonally adjusted volume standpoint, car sales.
continue to plug along at a stable speed.” Sales need to continue to enhance, given the anticipated continual,.
Moderate, improvement in overall production and stock levels,”.
said Chris Hopson, primary analyst 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 actually advanced as anticipated. But any.
indicator of faster than forecasted development in the total stock of.
new automobiles might indicate that car consumers are feeling the.
pressure of the present financial headwinds and retreating from the.
market.” As a result, Octobers SAAR boost is likely to be an abnormality.
compared to the rest of the year, Hopson said, adding that.
there are expectations of volatility in the regular monthly outcomes.
beginning in early 2023. Market share of battery-electric vehicles is anticipated to reach.
5.9% in November. Nevertheless, 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 United States are all in seaside states and.
represent 50.5% of total EV registrations so far in 2022 (through.
August). The greater Los Angeles and San Francisco urban.
locations alone represent almost one-third of total share of the United States.
EV market. Meanwhile the Heartland states market share of EV sales.
is hardly half of what they add to total vehicle.
registrations.” BEV market share control on the two coasts is attributed 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 potential for EV acceptance in top heartland.
markets: “More acceptance and much broader customer awareness is.
resulting in a natural development 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 development, item exposes 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 car programs at.
their finest emphasize what people will be driving in coming years,.
the exposes during the Los Angeles Auto Show show the continuing.
push toward electric and energized vehicles.” Of note, Fiat announced it will bring a variation 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 revealed a making of the bZ (” Beyond Zero”).
electric-vehicle idea, previewing a forthcoming compact SUV.
On the other hand, Vietnamese entrant VinFast showed U.S.-trim versions of.
2 EV crossover additions to its lineup – bringing its capacity.
US offerings to 4.