This post was released by S&P Global Mobility and not by S&P Global Ratings, which is a separately handled division of S&P Global.
Ongoing economic headwinds suggest no news could be great news
relating to automobile demand levelsWith volume for the month predicted at 1.122 million units,
November U.S. auto sales are approximated to equate to an approximated
sales pace of 14.1 million systems (seasonally adjusted annual rate:
SAAR). This would represent a continual enhancement from the May
through September duration but will reflect a decrease from Octobers.
14.9 million-unit speed, according to S&P Global Mobility.
analysis.The everyday selling rate metric in November (around 44-45K.
daily) would be in-line with levels since September. Translation:.
From a non-seasonally adjusted volume perspective, automobile sales.
continue to plug along at a consistent rate.” Sales should continue to improve, offered the anticipated sustained,.
Mild, advancement in general production and inventory 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 inventory. Currently, there are no.
clear signs; inventories have actually advanced as prepared for. However any.
sign of faster than predicted development in the general stock of.
new cars might imply that car customers are feeling the.
pressure of the existing economic headwinds and retreating from the.
market.” As an outcome, 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 month-to-month results.
starting in early 2023. Market share of battery-electric automobiles is expected to reach.
5.9% in November. Outside of the big 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 overall EV registrations so far in 2022 (through.
August). The greater Los Angeles and San Francisco city.
locations alone account for almost one-third of total share of the US.
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 two coasts is attributed 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.
market profile is more in sync with the conventional BEV buyer.
than the middle-American profile.” But Libby sees potential for EV acceptance in leading heartland.
markets: “More acceptance and much wider 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 reflect the OEM.
focus.According to Stephanie Brinley, associate director of.
AutoIntelligence at S&P Global Mobility, “As vehicle programs at.
their best emphasize what individuals will be driving in coming years,.
the reveals throughout the Los Angeles Auto Show reflect the continuing.
push toward electrical and electrified automobiles.” Of note, Fiat revealed 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 included a.
Prime trim that will double the hatchbacks EV-only range, while.
the automaker also showed a rendering of the bZ (” Beyond Zero”).
electric-vehicle concept, previewing a forthcoming compact SUV.
Vietnamese entrant VinFast revealed U.S.-trim versions of.
two EV crossover additions to its lineup – bringing its capacity.
United States offerings to 4.