This post was released by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.
Continuous financial headwinds suggest no news might be good news
regarding vehicle need levelsWith volume for the month predicted at 1.122 million systems,
November U.S. auto sales are approximated to equate to an estimated
sales pace of 14.1 million units (seasonally changed yearly rate:
SAAR). This would represent a sustained enhancement from the May
through September duration but will show a decline from Octobers.
14.9 million-unit speed, according to S&P Global Mobility.
analysis.The day-to-day selling rate metric in November (around 44-45K.
per day) would be in-line with levels because September. Translation:.
From a non-seasonally adjusted volume viewpoint, vehicle sales.
continue to plug along at a consistent pace.” Sales must continue to improve, given the anticipated sustained,.
Mild, improvement in overall production and inventory levels,”.
stated Chris Hopson, primary 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 actually advanced as anticipated. Any.
indication of faster than predicted growth in the general stock of.
new lorries might mean that automobile customers are feeling the.
pressure of the present economic headwinds and pulling away from the.
market.” As a result, Octobers SAAR boost is most likely to be an anomaly.
compared to the rest of the year, Hopson said, adding that.
there are expectations of volatility in the regular monthly outcomes.
beginning in early 2023. Market share of battery-electric cars is expected to reach.
5.9% in November. Nevertheless, 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 seaside states and.
represent 50.5% of overall EV registrations so far in 2022 (through.
August). The higher Los Angeles and San Francisco urban.
areas alone represent almost one-third of overall share of the US.
EV market. The Heartland states market share of EV sales.
is barely half of what they add to total car.
registrations.” BEV market share control on the two coasts is associated to.
their greater 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.
market profile is more in sync with the conventional BEV purchaser.
than the middle-American profile.” But Libby sees potential for EV acceptance in leading heartland.
markets: “More acceptance and much wider consumer 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, 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 auto programs at.
their best highlight what people will be driving in coming years,.
the reveals throughout the Los Angeles Auto Show show the continuing.
push towards electrical and electrified cars.” Of note, Fiat announced it will bring a variation of the European.
500 EV to the U.S. beginning in early 2024, reviving the 500e.
nameplate. Toyotas expose of the 2023 Prius hybrid consisted of a.
Prime cut that will double the hatchbacks EV-only variety, while.
the automaker also revealed a rendering of the bZ (” Beyond Zero”).
electric-vehicle concept, previewing an upcoming compact SUV.
Vietnamese entrant VinFast showed U.S.-trim versions of.
2 EV crossover additions to its lineup – bringing its potential.
United States offerings to 4.