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.
Ongoing financial headwinds imply no news might be excellent news
regarding auto need levelsWith volume for the month projected at 1.122 million systems,
November U.S. automobile sales are approximated to translate to an estimated
sales speed of 14.1 million units (seasonally changed annual rate:
SAAR). This would represent a sustained improvement from the May
through September duration but will show a decrease from Octobers.
14.9 million-unit rate, according to S&P Global Mobility.
analysis.The day-to-day selling rate metric in November (approximately 44-45K.
per day) would be in-line with levels given that September. Translation:.
From a non-seasonally adjusted volume viewpoint, auto sales.
continue to plug along at a stable speed.” Sales need to continue to enhance, offered the anticipated sustained,.
however moderate, improvement in total production and inventory levels,”.
said Chris Hopson, principal analyst at S&P Global Mobility.
” However, we also continue to keep track of for signals of.
faster-than-expected growth in stock. Presently, there are no.
clear signs; stocks have advanced as expected. But any.
indicator of faster than projected growth in the general stock of.
brand-new cars might mean that car consumers are feeling the.
pressure of the existing economic headwinds and pulling back from the.
market.” As an outcome, Octobers SAAR boost is most likely to be an anomaly.
compared to the remainder of the year, Hopson said, adding that.
there are expectations of volatility in the monthly results.
beginning in early 2023. Market share of battery-electric automobiles 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 greater Los Angeles and San Francisco urban.
areas alone represent nearly one-third of overall share of the United States.
EV market. On the other hand the Heartland states market share of EV sales.
is barely half of what they add to overall vehicle.
registrations.” BEV market share control on the two coasts is credited 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.
demographic profile is more in sync with the traditional BEV buyer.
than the middle-American profile.” But Libby sees possible for EV approval in leading heartland.
markets: “More acceptance and much more comprehensive consumer 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,.
this special report.) Supporting the EV development, product 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 automobile shows at.
their finest highlight what individuals will be driving in coming years,.
the reveals throughout the Los Angeles Auto Show reflect the continuing.
push towards electrical and electrified vehicles.” Of note, Fiat revealed it will bring a variation of the European.
500 EV to the U.S. beginning in early 2024, restoring the 500e.
nameplate. Toyotas expose of the 2023 Prius hybrid included a.
Prime cut that will double the hatchbacks EV-only range, while.
the automaker also showed a making of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing a forthcoming compact SUV.
Vietnamese entrant VinFast revealed U.S.-trim variations of.
2 EV crossover additions to its lineup – bringing its capacity.
US offerings to four.