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

Continuous economic headwinds imply no news could be great news
concerning auto need levelsWith volume for the month projected at 1.122 million units,
November U.S. automobile sales are estimated to translate to an approximated
sales pace of 14.1 million units (seasonally adjusted yearly rate:
SAAR). This would represent a continual enhancement from the May
through September duration but will reflect a decline from Octobers.
14.9 million-unit rate, according to S&P Global Mobility.
analysis.The daily selling rate metric in November (around 44-45K.
daily) would be in-line with levels because September. Translation:.
From a non-seasonally adjusted volume perspective, car sales.
continue to plug along at a consistent speed.” Sales ought to continue to improve, offered the expected continual,.
however mild, development in overall production and stock levels,”.
stated Chris Hopson, principal analyst at S&P Global Mobility.
” However, we also continue to keep an eye on for signals of.
faster-than-expected growth in stock. Presently, there are no.
clear indications; inventories have advanced as anticipated. Any.
indication of faster than predicted development in the total stock of.
new cars could imply that vehicle customers are feeling the.
pressure of the present economic headwinds and retreating from the.
market.” As a result, Octobers SAAR boost is most likely to be an abnormality.
compared to the rest of the year, Hopson stated, 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. Nevertheless, beyond 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 United States are all in coastal states and.
represent 50.5% of total EV registrations up until now in 2022 (through.
August). The higher Los Angeles and San Francisco urbane.
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 barely half of what they add to general automobile.
registrations.” BEV market share control on the two coasts is credited to.
their higher mix of early adopters compared to purchasers 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 buyer.
than the middle-American profile.” But Libby sees potential for EV acceptance in leading heartland.
markets: “More approval and much more comprehensive 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 improvement, 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 auto shows at.
their best emphasize what people will be driving in coming years,.
the reveals during the Los Angeles Auto Show show the continuing.
push towards electric and energized lorries.” 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 rendering of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing an upcoming compact SUV.
On the other hand, Vietnamese entrant VinFast revealed U.S.-trim versions of.
two EV crossover additions to its lineup – bringing its capacity.
US offerings to four.