Continuous financial headwinds indicate no news could be good news
concerning automobile demand levelsWith volume for the month forecasted at 1.122 million units,
November U.S. automobile sales are estimated to equate to an approximated
sales speed of 14.1 million units (seasonally changed annual rate:
SAAR). This would represent a continual enhancement from the May
through September duration however will reflect a decrease from Octobers.
14.9 million-unit pace, 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 given that September. Translation:.
From a non-seasonally adjusted volume viewpoint, car sales.
continue to plug along at a consistent pace.” Sales ought to continue to enhance, offered the expected continual,.
Moderate, improvement in general production and stock levels,”.
said Chris Hopson, primary analyst at S&P Global Mobility.
” However, we also continue to keep an eye on for signals of.
faster-than-expected growth in stock. Currently, there are no.
clear signs; stocks have advanced as expected. Any.
sign of faster than predicted growth in the overall stock of.
brand-new automobiles could imply that automobile consumers are feeling the.
pressure of the existing economic headwinds and retreating from the.
market.” As an outcome, Octobers SAAR boost 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.
starting in early 2023. Market share of battery-electric automobiles is anticipated to reach.
5.9% in November. Outside of 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 overall EV registrations so far in 2022 (through.
August). The greater Los Angeles and San Francisco urban.
areas alone account for almost one-third of overall share of the US.
EV market. On the other hand the Heartland states market share of EV sales.
is barely half of what they add to overall car.
registrations.” BEV market share control on the two coasts is attributed to.
their higher 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 possible for EV approval in top heartland.
markets: “More approval 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,.
this unique report.) Supporting the EV improvement, product exposes 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 auto programs at.
their best emphasize what individuals will be driving in coming years,.
the reveals during the Los Angeles Auto Show show the continuing.
push towards electrical and electrified lorries.” Of note, Fiat revealed it will bring a version 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 range, while.
the automaker also showed a making of the bZ (” Beyond Zero”).
electric-vehicle concept, previewing an upcoming compact SUV.
Meanwhile, Vietnamese entrant VinFast revealed U.S.-trim versions of.
2 EV crossover additions to its lineup – bringing its capacity.
United States offerings to 4.
This post was released by S&P Global Mobility and not by S&P Global Ratings, which is an independently managed division of S&P Global.