S&P Global Mobility: January 2023 US Auto Sales Highlight Mixed Messaging
"Auto consumers continue to be impacted by an uncertain purchase environment. While positive developments regarding mildly retreating vehicle prices and rising pockets of inventory bode well, interest rates remain high and economic headwinds persist," said
The S&P Global Mobility auto outlook for 2023 continues to carry a countercyclical narrative: We expect production levels to continue to develop even as economic conditions are expected to deteriorate through the early stages of next year. The advancing production levels, along with reports of sustained retail order books, recovering stock of vehicles, and a fleet sector that remains starved for product should provide some impetus to auto demand levels even as an economic recession looms. We project 2023 calendar year volume of 14.8 million units, a
Total Light Vehicle | Units, | 1,015,700 | 1,263,268 | 991,573 |
In millions, SAAR | 15.5 | 13.3 | 15.1 | |
In millions, SAAR | 12.2 | 10.5 | 12.1 | |
Passenger Car | In millions, SAAR | 3.3 | 2.8 | 3.0 |
Source: S&P Global Mobility (Est), | ||||
Sustained development of battery-electric vehicle (BEV) sales remains a constant assumption for 2023. BEV share is expected to reach
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SOURCE S&P Global Mobility