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

On projected volume of approximately 1.139 million systems, United States
vehicle sales in October will reach a seasonally changed annual rate
( SAAR) of 14.7 million systems, according to S&P Global Mobility
estimates. While this would mark the greatest month-to-month SAAR level
in 8 months, the underlying characteristics of the market remain in
flux.” Pockets of lorry inventory levels continue to improve
more quickly than anticipated from extraordinarily low levels and
bring welcome news on the supply side of the formula. Nevertheless,
car customers are most likely feeling the pressure of existing financial
headwinds,” according to Chris Hopson, Principal Analyst at
S&P Global Mobility. “While we continue to point to
stock levels as a major aspect in stemming immediate-term
momentum in car sales levels, the deteriorating economic
conditions are becoming more common.” Hindered by higher rates of interest settings and lower levels of
tasks growth than formerly prepared for, consumers are expected to
retrench – thus ending up being a significant input aspect to auto need
levels over the next 12-18 months. In its October 2022 US Economics
upgrade, S&P Global Market Intelligence team has modified
downward its projection of real GDP development in 2023 from 0.9% to
-0.5%. The base projection now consists of a moderate economic crisis beginning in
the 4th quarter of this year, with an anemic recovery taking
keep in the 3rd quarter of next year.If theres a silver lining, the potential for faster new-vehicle
stock growth must enable for down pressure on automobile
rates and supply some clearance for vehicle customers prepared to
test the marketplace in 2023.