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

Continuous financial headwinds indicate no news could be great news
concerning car demand levelsWith volume for the month forecasted at 1.122 million systems,
November U.S. car sales are approximated to equate to an estimated
sales pace of 14.1 million units (seasonally adjusted yearly rate:
SAAR). This would represent a continual improvement from the May
through September duration however will reflect a decline from Octobers.
14.9 million-unit rate, according to S&P Global Mobility.
analysis.The daily selling rate metric in November (around 44-45K.
daily) would be in-line with levels considering that September. Translation:.
From a non-seasonally adjusted volume viewpoint, auto sales.
continue to plug along at a consistent speed.” Sales need to continue to enhance, provided the anticipated sustained,.
but moderate, advancement in general production and stock levels,”.
stated Chris Hopson, principal analyst at S&P Global Mobility.
” However, we also continue to keep track of for signals of.
faster-than-expected development in stock. Currently, there are no.
clear signs; inventories have actually advanced as prepared for. Any.
sign of faster than predicted growth in the total stock of.
new automobiles might imply that car consumers 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 abnormality.
compared to the rest of the year, Hopson said, including 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 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 United States are all in seaside states and.
represent 50.5% of total EV registrations so far in 2022 (through.
August). The higher Los Angeles and San Francisco metropolitan.
areas alone represent almost one-third of overall share of the United States.
EV market. The Heartland states market share of EV sales.
is barely half of what they add to general automobile.
registrations.” BEV market share control on the 2 coasts is attributed 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 conventional BEV purchaser.
than the middle-American profile.” But Libby sees possible for EV approval in top heartland.
markets: “More acceptance and much more comprehensive customer awareness is.
leading to 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, item exposes surrounding the.
Los Angeles Auto Show last week continue to show the OEM.
focus.According to Stephanie Brinley, associate director of.
AutoIntelligence at S&P Global Mobility, “As automobile programs at.
their finest highlight what individuals will be driving in coming years,.
the exposes during the Los Angeles Auto Show show the continuing.
push towards electric and electrified vehicles.” 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 included a.
Prime trim that will double the hatchbacks EV-only variety, while.
the car manufacturer also showed a rendering of the bZ (” Beyond Zero”).
electric-vehicle concept, previewing a forthcoming compact SUV.
On the other hand, Vietnamese entrant VinFast showed U.S.-trim variations of.
2 EV crossover additions to its lineup – bringing its potential.
US offerings to four.