Ongoing financial headwinds imply no news might be excellent news
concerning vehicle demand levelsWith volume for the month projected at 1.122 million systems,
November U.S. car sales are estimated to equate to an estimated
sales pace of 14.1 million units (seasonally changed yearly rate:
SAAR). This would represent a continual improvement from the May
through September duration 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 because September. Translation:.
From a non-seasonally adjusted volume perspective, auto sales.
continue to plug along at a constant speed.” Sales must continue to improve, given the anticipated sustained,.
but mild, development in total production and inventory levels,”.
stated Chris Hopson, principal analyst at S&P Global Mobility.
” However, we likewise continue to monitor for signals of.
faster-than-expected growth in inventory. Presently, there are no.
clear signs; inventories have actually advanced as expected. But any.
indicator of faster than predicted development in the overall stock of.
brand-new cars could indicate that auto consumers are feeling the.
pressure of the present economic headwinds and pulling away from the.
market.” As a result, Octobers SAAR increase is likely to be an abnormality.
compared to the remainder of the year, Hopson said, adding that.
there are expectations of volatility in the monthly results.
starting in early 2023. Market share of battery-electric automobiles is anticipated to reach.
5.9% in November. Outside of the large coastal 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 account for almost one-third of overall share of the US.
EV market. The Heartland states market share of EV sales.
is hardly half of what they contribute to general vehicle.
registrations.” BEV market share control on the two coasts is associated 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.
group profile is more in sync with the conventional BEV buyer.
than the middle-American profile.” But Libby sees potential for EV acceptance in leading heartland.
markets: “More acceptance and much broader customer awareness is.
leading to a natural progression 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 improvement, product 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 auto shows at.
their finest emphasize what individuals will be driving in coming years,.
the reveals throughout the Los Angeles Auto Show reflect the continuing.
push towards electrical and energized automobiles.” Of note, Fiat revealed 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 automaker also showed a making of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing an upcoming compact SUV.
Meanwhile, Vietnamese entrant VinFast showed U.S.-trim variations of.
2 EV crossover additions to its lineup – bringing its potential.
US offerings to 4.

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