Retail marketed stock knowledge for
the week of Nov. 6-12: S&P World Mobility delivers the
following insights referring to the USA marketplace.

General {industry} inventories down from
top

New automobile broker stock listings peaked in
mid-October simply shy of two.5 million gadgets, and feature observed a slight
lower since then – from an end-of-October stage of two.35 million
to be had broker marketed gadgets to about 2.3 million
mid-November.

Supply: S&P World Mobility Retail
Marketed Stock knowledge, week of Nov 6-12, 2023
©2023 S&P World Mobility

A BEV plateau?

Electrical automobile broker marketed inventories
(now not together with Tesla) additionally peaked the similar week in October at
135,000 gadgets, and feature declined quite since then. Maximum EVs have
reached a listing plateau and flattened off, aside from the Ford
F-150 Lightning, which has grown sharply to ten,000 gadgets. Ford
reported overall gross sales of about 2,000 Lightnings in August and
September blended, however then speeded up to three,712 gadgets in October.
The chart under displays industry-wide BEV retail marketed stock
(now not counting Tesla).

Supply: S&P World Mobility Retail
Marketed Stock knowledge, week of Nov 6-12, 2023
©2023 S&P World Mobility

Mustang Mach-E reductions

Then again, Ford’s dedication to creating the
Mustang Mach-E a gross sales good fortune has come at a value – or quite a
value minimize. Greater than part of Mach-E’s retail marketed stock
is sporting a below-sticker be offering. In Maryland and Virginia
dealerships, Mach-E has a mean cut price of greater than $5,000.
Large reductions at the Mach-E will also be present in Mississippi,
Oklahoma, Connecticut, Minnesota, and Kentucky. The chart under
displays EV retail marketed inventories via nameplate.

Supply: S&P World Mobility Retail
Marketed Stock knowledge, week of Nov 6-12, 2023
©2023 S&P World Mobility

Hybrids nonetheless revving arduous

As shoppers faucet the
brakes of their willingness to decide to the electrical automobile
way of life, a hybrid-electric
powertrain is being accredited as a suitable midway
choice. As of Nov. 12, there have been 219k hybrids in broker
marketed inventories – a host that were rising all summer season
to satisfy gross sales call for. About one-third of that overall comes from the
compact SUV section, as observed within the chart under.

Supply: S&P World Mobility Retail Marketed Stock knowledge,
week of Nov 6-12, 2023
©2023 S&P World Mobility

Strike cars strike
again

In anticipation of the UAW strike motion, GM,
Ford, and Stellantis cranked up centered vegetation in order that blended
volumes of the Ford Ranger, Ford Bronco, Ford Explorer, Lincoln
Aviator, Chevrolet Colorado, GMC Canyon, Chevrolet Traverse, Buick
Enclave, Jeep Wrangler, and Jeep Gladiator had been at post-pandemic
highs of about 160,000 gadgets as of Sept. 18. Regardless of the strike
lasting handiest six weeks at the ones vegetation sooner than employees returned,
gross sales have driven inventories right down to about 116,000 gadgets. For
instance, pre-strike, the Jeep Wrangler had the second-most
stock of any compact SUV; as of Nov. 12, that they had fallen to
fourth-most stock within the section. Even though the meeting vegetation
go back to complete manufacturing temporarily, there’s the infrastructure
factor of having gadgets to dealerships. Apparently volumes of strike
cars have reached their backside, as observed within the chart under.

Supply: S&P World Mobility Retail
Marketed Stock knowledge, week of Nov 6-12, 2023
©2023 S&P World Mobility

Promoting down 2023s

As of mid-October, there have been nonetheless extra
marketed broker stock of outgoing 2023 MY fashions than
incoming 2024s, whilst the 2024 MY stock was once rising at a sooner
price than the 2023 MY sell-down. However as of mid-November, that tide
turns out to have reversed; there are actually fewer 2023s (about 955k) than
2024s (about 1.34 million).

Supply: S&P World Mobility Retail
Marketed Stock knowledge, week of Nov 6-12, 2023
©2023 S&P World Mobility

2023s and mainstream
manufacturers

So, who’s managing the sell-down splendid? Many
manufacturers activated fall selldowns, however Ford is sporting the 2023
type yr deeper into the yr – particularly for the best-selling
F-Sequence pickup, which may have a 1Q 2024 rollout of the mid-cycle
refresh 2024 type. Recently Ford has about 250k gadgets of 2023 MY
cars, of which 105k are the F-Sequence and Lightning. Ford additionally
is sporting the 2023 type Explorer into 1Q 2024, which provides to the
2023 MY rely as smartly. From Ford’s stage, this can be a good distance right down to
Toyota and Jeep in the case of leftover 2023s; taking out the F-Sequence
and Explorer, on the other hand, brings it a lot nearer to the pack. The chart
under displays 2023 type yr retail marketed inventories via
emblem.

Supply: S&P World Mobility Retail
Marketed Stock knowledge, week of Nov 6-12, 2023
©2023 S&P World Mobility

2023s and comfort manufacturers

Maximum luxurious manufacturers have cleared out their
2023s, aside from for Mercedes-Benz – which continues to be watching for the
arrival of its re-engineered 2024 E-Elegance sedan. Even supposing Mercedes’
summer season selldown dropped its broker marketed inventories of 2023
MY cars from round 250k in Would possibly right down to 116k right now, the
2023 E-Elegance ramped up broker marketed inventories in September –
ranges which might be nonetheless increased for the reason that refreshed 2024s aren’t
but in broker shares. The chart under displays retail marketed
inventories via luxurious manufacturers.

Supply: S&P World Mobility Retail
Marketed Stock knowledge, week of Nov 6-12, 2023
©2023 S&P World Mobility

Take into account midsize sedans? Toyota
does.

With a brief 2024 type yr of the Toyota
Camry sooner than the Ninth-generation redesign arrives as a 2025 type in
spring, Toyota is cranking up the outgoing type. It was once the
best-selling passenger automobile for 20-plus years, till the RAV4
compact SUV took its position in 2017 – however it is nonetheless close to the highest of
the gross sales charts. However that hasn’t stopped Toyota’s want to stay
sedans in driveways. Broker marketed inventories of Camry are
these days double the ones of the gross sales runners-up competition – the
Nissan Altima and Honda Accord.

Supply: S&P World Mobility Retail Marketed Stock knowledge,
week of Nov 6-12, 2023
©2023 S&P World Mobility

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This newsletter was once revealed via S&P World Mobility and now not via S&P World Scores, which is a one at a time controlled department of S&P World.