Ongoing financial headwinds suggest no news could be good news
regarding automobile demand levelsWith volume for the month forecasted at 1.122 million systems,
November U.S. automobile 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 duration however 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.
daily) would be in-line with levels given that September. Translation:.
From a non-seasonally adjusted volume standpoint, auto sales.
continue to plug along at a consistent rate.” Sales need to continue to improve, provided the expected continual,.
Mild, improvement in total production and stock levels,”.
stated Chris Hopson, primary expert at S&P Global Mobility.
” However, we likewise continue to monitor for signals of.
faster-than-expected development in stock. Presently, there are no.
clear signs; stocks have advanced as prepared for. Any.
indicator of faster than projected growth in the total stock of.
brand-new vehicles might mean that automobile consumers are feeling the.
pressure of the present financial headwinds and retreating from the.
market.” As a result, Octobers SAAR boost 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.
starting in early 2023. Market share of battery-electric vehicles 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 US are all in coastal states and.
represent 50.5% of total EV registrations up until now in 2022 (through.
August). The greater Los Angeles and San Francisco metropolitan.
areas alone represent nearly one-third of overall share of the United States.
EV market. The Heartland states market share of EV sales.
is hardly half of what they add to total vehicle.
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.
demographic profile is more in sync with the traditional 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,.
this special report.) Supporting the EV development, product 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 auto shows at.
their best emphasize what individuals will be driving in coming years,.
the reveals during the Los Angeles Auto Show show the continuing.
push toward electric and electrified 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 reveal of the 2023 Prius hybrid included a.
Prime cut that will double the hatchbacks EV-only variety, while.
the automaker likewise revealed a making of the bZ (” Beyond Zero”).
electric-vehicle idea, previewing an upcoming compact SUV.
On the other hand, Vietnamese entrant VinFast revealed U.S.-trim variations of.
2 EV crossover additions to its lineup – bringing its potential.
United States offerings to four.
This article was released by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.