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

On projected volume of roughly 1.139 million systems, vehicle
sales in October will reach a seasonally adjusted annual rate
( SAAR) of 14.7 million units, according to S&P Global Mobility
quotes. While this would mark the greatest regular monthly SAAR level
in 8 months, the underlying characteristics of the market remain in
flux.” Pockets of automobile stock levels continue to enhance
quicker than anticipated from extraordinarily low levels and
bring welcome news on the supply side of the equation.
auto consumers are likely feeling the pressure of existing economic
headwinds,” according to Chris Hopson, Principal Analyst at
S&P Global Mobility. “While we continue to indicate
stock levels as a major consider stemming immediate-term
momentum in vehicle sales levels, the weakening economic
conditions are becoming more widespread.” Hindered by greater rates of interest settings and lower levels of
tasks growth than previously prepared for, consumers are anticipated to
retrench – thus ending up being a major input element to auto demand
levels over the next 12-18 months. In its October 2022 United States Economics
update, S&P Global Market Intelligence team has modified
downward its forecast of genuine GDP growth in 2023 from 0.9% to
-0.5%. The base forecast now consists of a moderate economic crisis beginning in
the fourth quarter of this year, with an anemic recovery taking
hold in the 3rd quarter of next year.If theres a silver lining, the potential for faster new-vehicle
stock development should permit downward pressure on lorry
pricing and offer some clearance for automobile customers happy to
test the marketplace in 2023.