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

Continuous financial headwinds suggest no news might be great news
concerning auto need levelsWith volume for the month predicted at 1.122 million systems,
November U.S. car sales are estimated to equate to an approximated
sales pace of 14.1 million units (seasonally adjusted yearly rate:
SAAR). This would represent a sustained improvement 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 daily 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 constant rate.” Sales should continue to enhance, offered the expected continual,.
but moderate, development in overall production and inventory levels,”.
stated Chris Hopson, primary expert at S&P Global Mobility.
” However, we likewise continue to monitor for signals of.
faster-than-expected growth in stock. Presently, there are no.
clear indications; inventories have actually advanced as expected. Any.
indication of faster than forecasted growth in the total stock of.
brand-new lorries might mean that automobile consumers are feeling the.
pressure of the existing financial headwinds and pulling back from the.
market.” As a result, Octobers SAAR boost is likely to be an anomaly.
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 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 US 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 cosmopolitan.
locations alone represent almost one-third of overall share of the United States.
EV market. Meanwhile the Heartland states market share of EV sales.
is hardly half of what they contribute to total automobile.
registrations.” BEV market share control on the 2 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.
group profile is more in sync with the standard BEV purchaser.
than the middle-American profile.” But Libby sees prospective for EV acceptance in top heartland.
markets: “More approval 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 unique report.) Supporting the EV development, item reveals surrounding the.
Los Angeles Auto Show recently 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 highlight what people will be driving in coming years,.
the exposes during the Los Angeles Auto Show show the continuing.
push toward electric and energized cars.” Of note, Fiat announced 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 included a.
Prime trim that will double the hatchbacks EV-only range, while.
the car manufacturer likewise showed a making of the bZ (” Beyond Zero”).
electric-vehicle idea, previewing a forthcoming compact SUV.
Vietnamese entrant VinFast showed U.S.-trim versions of.
2 EV crossover additions to its lineup – bringing its capacity.
United States offerings to four.