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

Continuous economic headwinds imply no news could be good news
relating to automobile need levelsWith volume for the month projected at 1.122 million systems,
November U.S. auto sales are approximated to translate to an estimated
sales speed of 14.1 million units (seasonally adjusted annual rate:
SAAR). This would represent a continual enhancement from the May
through September duration but will show a decrease from Octobers.
14.9 million-unit pace, according to S&P Global Mobility.
analysis.The daily selling rate metric in November (approximately 44-45K.
daily) would be in-line with levels since September. Translation:.
From a non-seasonally adjusted volume standpoint, vehicle sales.
continue to plug along at a stable speed.” Sales ought to continue to enhance, given the anticipated sustained,.
Mild, development in overall production and stock levels,”.
said Chris Hopson, principal expert 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 indications; stocks have advanced as expected. Any.
sign of faster than predicted development in the overall stock of.
new automobiles might indicate that auto customers are feeling the.
pressure of the present economic headwinds and retreating from the.
market.” As an outcome, Octobers SAAR boost is most likely to be an abnormality.
compared to the remainder of the year, Hopson said, including that.
there are expectations of volatility in the monthly results.
starting in early 2023. Market share of battery-electric cars is anticipated to reach.
5.9% in November. However, beyond 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 US 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 account for almost one-third of total share of the US.
EV market. The Heartland states market share of EV sales.
is barely half of what they contribute to overall vehicle.
registrations.” BEV market share control on the two coasts is associated 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.
group profile is more in sync with the conventional BEV buyer.
than the middle-American profile.” But Libby sees potential for EV approval in top heartland.
markets: “More acceptance and much wider customer awareness is.
leading to a natural progression 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 development, item 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 vehicle shows at.
their finest highlight what people will be driving in coming years,.
the exposes during the Los Angeles Auto Show show the continuing.
push towards electrical and amazed cars.” Of note, Fiat announced it will bring a variation of the European.
500 EV to the U.S. beginning in early 2024, restoring the 500e.
nameplate. Toyotas reveal of the 2023 Prius hybrid consisted of a.
Prime cut that will double the hatchbacks EV-only variety, while.
the car manufacturer also revealed a rendering of the bZ (” Beyond Zero”).
electric-vehicle idea, previewing a forthcoming compact SUV.
Vietnamese entrant VinFast revealed U.S.-trim versions of.
two EV crossover additions to its lineup – bringing its potential.
US offerings to four.