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

Ongoing economic headwinds imply no news might be good news
regarding vehicle need levelsWith volume for the month projected at 1.122 million units,
November U.S. auto sales are approximated to translate to an estimated
sales rate of 14.1 million systems (seasonally changed annual rate:
SAAR). This would represent a sustained enhancement from the May
through September duration however will show a decrease from Octobers.
14.9 million-unit speed, 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 standpoint, automobile sales.
continue to plug along at a constant rate.” Sales ought to continue to enhance, offered the anticipated continual,.
but moderate, advancement in general production and inventory levels,”.
said Chris Hopson, principal expert at S&P Global Mobility.
” However, we also continue to monitor for signals of.
faster-than-expected growth in stock. Currently, there are no.
clear indications; inventories have advanced as anticipated. However any.
sign of faster than predicted growth in the overall stock of.
brand-new lorries could mean that car consumers are feeling the.
pressure of the current economic headwinds and retreating from the.
market.” As a result, Octobers SAAR boost is likely to be an abnormality.
compared to the remainder of the year, Hopson stated, adding that.
there are expectations of volatility in the monthly outcomes.
starting in early 2023. Market share of battery-electric vehicles 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 up until now in 2022 (through.
August). The greater Los Angeles and San Francisco cosmopolitan.
locations alone account for nearly one-third of total share of the United States.
EV market. The Heartland states market share of EV sales.
is barely half of what they add to general car.
registrations.” BEV market share control on the 2 coasts is credited 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.
demographic profile is more in sync with the traditional BEV buyer.
than the middle-American profile.” But Libby sees prospective for EV acceptance in leading heartland.
markets: “More approval and much wider consumer awareness is.
resulting in a natural development of adoption from the coasts to.
the Heartland.” (For more on this analysis of EVs in the Heartland,.
please see.
this unique report.) Supporting the EV development, product reveals 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 automobile shows at.
their best emphasize what people will be driving in coming years,.
the exposes during the Los Angeles Auto Show reflect the continuing.
push towards electric and electrified lorries.” Of note, Fiat revealed 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 included a.
Prime cut that will double the hatchbacks EV-only range, while.
the automaker also revealed a making of the bZ (” Beyond Zero”).
electric-vehicle principle, previewing an upcoming compact SUV.
Vietnamese entrant VinFast showed U.S.-trim variations of.
2 EV crossover additions to its lineup – bringing its capacity.
US offerings to four.