S&P Global Mobility: November auto sales continue previous three-month trend

S&P Global Mobility: November auto sales continue previous three-month trend

This post was released by S&P Global Mobility and not by S&P Global Ratings, which is an individually managed division of S&P Global.

Ongoing economic headwinds mean no news might be excellent news
concerning automobile demand levelsWith volume for the month forecasted at 1.122 million units,
November U.S. auto sales are estimated to translate to an approximated
sales speed of 14.1 million systems (seasonally adjusted annual rate:
SAAR). This would represent a sustained enhancement from the May
through September period however will reflect a decrease from Octobers.
14.9 million-unit rate, according to S&P Global Mobility.
analysis.The everyday selling rate metric in November (approximately 44-45K.
daily) would be in-line with levels because September. Translation:.
From a non-seasonally adjusted volume perspective, automobile sales.
continue to plug along at a constant pace.” Sales ought to continue to improve, provided the expected continual,.
but moderate, advancement in general production and stock levels,”.
stated Chris Hopson, principal expert at S&P Global Mobility.
” However, we also continue to monitor for signals of.
faster-than-expected development in stock. Currently, there are no.
clear signs; stocks have advanced as expected. Any.
indicator of faster than predicted growth in the total stock of.
new vehicles might suggest that auto consumers are feeling the.
pressure of the present financial headwinds and pulling back from the.
market.” As a result, Octobers SAAR boost is likely to be an abnormality.
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 lorries is expected 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 up until now in 2022 (through.
August). The higher Los Angeles and San Francisco cosmopolitan.
locations alone account for nearly 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 contribute to general lorry.
registrations.” BEV market share control on the 2 coasts is attributed to.
their higher mix of early adopters compared to buyers in middle.
America,” stated Tom Libby, associate director of Loyalty Solutions.
and Industry Analysis at S&P Global Mobility. “Their.
group profile is more in sync with the traditional BEV purchaser.
than the middle-American profile.” But Libby sees possible for EV acceptance in leading heartland.
markets: “More acceptance and much more comprehensive consumer 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 unique report.) Supporting the EV improvement, 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 shows at.
their finest highlight what people will be driving in coming years,.
the reveals throughout the Los Angeles Auto Show show the continuing.
push towards electrical and energized vehicles.” 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 expose of the 2023 Prius hybrid included a.
Prime trim that will double the hatchbacks EV-only variety, while.
the car manufacturer likewise revealed a making of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing an upcoming compact SUV.
Vietnamese entrant VinFast showed U.S.-trim versions of.
two EV crossover additions to its lineup – bringing its potential.
US offerings to 4.

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