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

On forecasted volume of roughly 1.139 million units, United States
vehicle sales in October will reach a seasonally adjusted annual rate
( SAAR) of 14.7 million systems, according to S&P Global Mobility
quotes. While this would mark the strongest regular monthly SAAR level
in eight months, the underlying dynamics of the market stay in
flux.” Pockets of vehicle inventory levels continue to improve
quicker than anticipated from extremely low levels and
bring welcome news on the supply side of the equation.
automobile consumers are most likely feeling the pressure of current financial
headwinds,” according to Chris Hopson, Principal Analyst at
S&P Global Mobility. “While we continue to point to
inventory levels as a major aspect in stemming immediate-term
momentum in car sales levels, the degrading financial
conditions are ending up being more prevalent.” Hindered by greater interest rate settings and lower levels of
jobs growth than previously prepared for, customers are anticipated to
retrench – consequently ending up being a significant input element to car need
levels over the next 12-18 months. In its October 2022 US Economics
upgrade, S&P Global Market Intelligence team has revised
downward its projection of genuine GDP development in 2023 from 0.9% to
-0.5%. The base projection now consists of a mild economic crisis beginning in
the fourth quarter of this year, with an anemic healing taking
keep in the third quarter of next year.If theres a silver lining, the capacity for faster new-vehicle
stock development ought to permit for downward pressure on vehicle
prices and provide some clearance for vehicle customers happy to
test the market in 2023.