This post was released by S&P Global Mobility and not by S&P Global Ratings, which is an individually handled division of S&P Global.
Continuous financial headwinds mean no news could be great news
concerning car demand levelsWith volume for the month projected at 1.122 million units,
November U.S. vehicle sales are approximated to translate to an estimated
sales speed of 14.1 million units (seasonally adjusted annual rate:
SAAR). This would represent a sustained enhancement from the May
through September duration but 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 (around 44-45K.
each day) would be in-line with levels since September. Translation:.
From a non-seasonally adjusted volume standpoint, car sales.
continue to plug along at a consistent speed.” Sales need to continue to enhance, offered the expected continual,.
Moderate, improvement in general production and stock levels,”.
stated Chris Hopson, primary expert at S&P Global Mobility.
” However, we also continue to keep track of for signals of.
faster-than-expected growth in inventory. Currently, there are no.
clear indications; inventories have advanced as prepared for. But any.
indication of faster than predicted growth in the general stock of.
brand-new automobiles could mean that vehicle consumers are feeling the.
pressure of the present financial headwinds and pulling back from the.
market.” As an outcome, Octobers SAAR boost is most likely to be an anomaly.
compared to the rest of the year, Hopson stated, adding that.
there are expectations of volatility in the month-to-month results.
starting in early 2023. Market share of battery-electric cars 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 United States 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 metropolitan.
areas 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 add to total lorry.
registrations.” BEV market share control on the 2 coasts is associated 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 traditional BEV buyer.
than the middle-American profile.” But Libby sees possible for EV acceptance in top heartland.
markets: “More acceptance and much broader customer awareness is.
resulting in a natural progression of adoption from the coasts to.
the Heartland.” (For more on this analysis of EVs in the Heartland,.
this unique report.) Supporting the EV development, item exposes surrounding the.
Los Angeles Auto Show recently continue to show the OEM.
focus.According to Stephanie Brinley, associate director of.
AutoIntelligence at S&P Global Mobility, “As automobile shows at.
their best emphasize what people will be driving in coming years,.
the exposes throughout the Los Angeles Auto Show show the continuing.
push toward electric and amazed lorries.” Of note, Fiat announced it will bring a variation of the European.
500 EV to the U.S. starting in early 2024, reviving the 500e.
nameplate. Toyotas reveal of the 2023 Prius hybrid consisted of a.
Prime cut that will double the hatchbacks EV-only range, while.
the car manufacturer likewise showed a rendering of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing a forthcoming compact SUV.
Vietnamese entrant VinFast revealed U.S.-trim versions of.
2 EV crossover additions to its lineup – bringing its capacity.
United States offerings to four.