Continuous financial headwinds imply no news might be good news
concerning auto need levelsWith volume for the month predicted at 1.122 million units,
November U.S. car sales are approximated to translate to an estimated
sales pace of 14.1 million units (seasonally changed yearly rate:
SAAR). This would represent a continual enhancement from the May
through September period but will reflect a decline from Octobers.
14.9 million-unit speed, 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 since September. Translation:.
From a non-seasonally adjusted volume standpoint, auto sales.
continue to plug along at a steady speed.” Sales need to continue to enhance, given the expected continual,.
however mild, development in general production and stock levels,”.
stated Chris Hopson, primary expert at S&P Global Mobility.
” However, we also continue to monitor for signals of.
faster-than-expected development in stock. Presently, there are no.
clear signs; inventories have advanced as expected. Any.
indication of faster than predicted growth in the total stock of.
new cars could indicate that car customers are feeling the.
pressure of the existing economic headwinds and retreating from the.
market.” As a result, Octobers SAAR increase 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 results.
beginning in early 2023. Market share of battery-electric cars is anticipated 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 United States are all in seaside states and.
represent 50.5% of overall EV registrations up until now in 2022 (through.
August). The greater Los Angeles and San Francisco city.
areas alone represent almost one-third of total share of the US.
EV market. On the other hand 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 attributed to.
their greater mix of early adopters compared to purchasers in middle.
America,” stated 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 approval in top heartland.
markets: “More acceptance and much wider 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 advancement, item reveals 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 best highlight what individuals will be driving in coming years,.
the exposes during the Los Angeles Auto Show reflect the continuing.
push towards electric and amazed vehicles.” Of note, Fiat announced it will bring a version of the European.
500 EV to the U.S. starting in early 2024, reviving the 500e.
nameplate. Toyotas expose of the 2023 Prius hybrid consisted of a.
Prime cut that will double the hatchbacks EV-only range, while.
the automaker also revealed a rendering of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing a forthcoming compact SUV.
Vietnamese entrant VinFast showed U.S.-trim versions of.
two EV crossover additions to its lineup – bringing its capacity.
United States offerings to four.

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