Ongoing financial headwinds mean no news might be great news
concerning vehicle demand levelsWith volume for the month predicted at 1.122 million systems,
November U.S. car sales are approximated to equate to an approximated
sales speed of 14.1 million units (seasonally adjusted yearly rate:
SAAR). This would represent a continual improvement from the May
through September period however will reflect a decline from Octobers.
14.9 million-unit speed, according to S&P Global Mobility.
analysis.The daily selling rate metric in November (roughly 44-45K.
each day) would be in-line with levels since September. Translation:.
From a non-seasonally adjusted volume viewpoint, automobile sales.
continue to plug along at a consistent pace.” Sales should continue to improve, given the expected continual,.
but mild, development in total production and inventory levels,”.
stated Chris Hopson, principal expert at S&P Global Mobility.
” However, we likewise continue to keep an eye on for signals of.
faster-than-expected development in stock. Currently, there are no.
clear indications; stocks have actually advanced as anticipated. However any.
sign of faster than forecasted development in the general stock of.
new vehicles could indicate that auto consumers are feeling the.
pressure of the current financial headwinds and pulling back from the.
market.” As an outcome, Octobers SAAR boost is likely to be an abnormality.
compared to the remainder of the year, Hopson stated, adding that.
there are expectations of volatility in the monthly results.
beginning in early 2023. Market share of battery-electric vehicles is expected 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 seaside states and.
represent 50.5% of total EV registrations so far in 2022 (through.
August). The higher Los Angeles and San Francisco city.
locations alone represent nearly one-third of total 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 total car.
registrations.” BEV market share control on the 2 coasts is credited to.
their greater 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 standard 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.
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 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 car shows at.
their best emphasize what people will be driving in coming years,.
the reveals throughout the Los Angeles Auto Show reflect 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, 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 idea, previewing an upcoming compact SUV.
Vietnamese entrant VinFast showed U.S.-trim versions of.
two EV crossover additions to its lineup – bringing its capacity.
US offerings to 4.

This post was published by S&P Global Mobility and not by S&P Global Ratings, which is an individually handled department of S&P Global.