US mild car gross sales to rise 6% in November, report says

(Reuters) – Automotive information agency S&P International Mobility mentioned on Monday it expects U.S. mild car gross sales to be up 6% in November from a yr in the past.

Mild car gross sales within the U.S. for the month are anticipated to rise to about 1.31 million models, from 1.23 million models final yr.

The share of battery electrical autos is predicted to succeed in 8.7% in November, the report added.

The demand for mild car has elevated within the U.S., favoring inexpensive subcompact crossovers and pickup vans as an alternative of bigger luxurious fashions within the face of financial uncertainties.

“Retail gross sales are displaying sustained progress in November, aided by a mix of rising stock, the start of year-end clearance promotional exercise, and fairly presumably aid from decrease rates of interest,” mentioned principal analyst at S&P International Mobility Chris Hopson.

S&P International Mobility added that regardless of decrease stock ranges for electrical autos, November and December might have battery EV share advances in anticipation of Federal EV incentives being withdrawn subsequent yr.