This post was released by S&P Global Mobility and not by S&P Global Ratings, which is an independently managed department of S&P Global.

On forecasted volume of approximately 1.139 million systems, United States
auto sales in October will reach a seasonally adjusted yearly rate
( SAAR) of 14.7 million units, according to S&P Global Mobility
estimates. While this would mark the strongest monthly SAAR level
in eight months, the underlying characteristics of the marketplace remain in
flux.” Pockets of lorry stock levels continue to enhance
quicker than gotten out of extraordinarily low levels and
bring welcome news on the supply side of the equation.
vehicle customers are most likely feeling the pressure of present economic
headwinds,” according to Chris Hopson, Principal Analyst at
S&P Global Mobility. “While we continue to indicate
stock levels as a significant consider stemming immediate-term
momentum in car sales levels, the degrading financial
conditions are becoming more common.” Hindered by higher rate of interest settings and lower levels of
jobs development than previously expected, customers are anticipated to
retrench – thus becoming a major input aspect to vehicle demand
levels over the next 12-18 months. In its October 2022 US Economics
upgrade, 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 projection now consists of a moderate economic downturn starting in
the 4th quarter of this year, with an anemic healing taking
hold in the third quarter of next year.If theres a silver lining, the capacity for faster new-vehicle
stock development must permit downward pressure on vehicle
rates and provide some clearance for auto customers happy to
test the marketplace in 2023.