According to the latest data released by S&P Global Mobility, US light vehicle sales in November are expected to reach 1.31 million units, an increase of about 6% from 1.23 million units in the same period last year. This data reflects the continued recovery of consumer demand for light vehicles, especially in the context of uncertain economic prospects, small crossovers and pickup trucks have become the main choice for consumers.
Although the inventory level of electric vehicles (EVs) in the United States is relatively low, S&P Global Mobility said that with the possible cancellation of federal electric vehicle incentives in 2024, the US pure electric vehicle market share is expected to grow in November and December this year. According to the agency's forecast, pure electric vehicles will account for 8.7% of total sales in the United States in November. This trend shows that consumers' interest in electric vehicles is constantly heating up, especially in the context of gradual changes in incentive policies, and it is expected that the demand for pure electric vehicles may further increase in the coming months.
It is worth noting that there has been a shift in the purchasing preferences of current American consumers. As the uncertainty of the economic outlook increases, consumers are beginning to favor affordable small crossovers and pickup trucks, and no longer pay too much attention to large luxury models. This trend reflects the adjustment of the US market under macroeconomic pressure, and consumers pay more attention to cost-effectiveness and practicality.
Data from S&P Global Automotive shows that despite the challenges faced by the US auto market, the growth in light vehicle sales shows that consumers still have a strong demand for cars. As the economic situation gradually recovers, sales are expected to continue to grow in the coming months, especially driven by changes in incentive policies in the electric vehicle market, and the market share of electric vehicles may usher in a new peak.