(Reuters) – Automotive data firm S&P Global Mobility said on Monday it expects U.S. light vehicle sales to be up 6% in November from a year ago.
Light vehicle sales in the U.S. for the month are expected to rise to about 1.31 million units, from 1.23 million units last year.
The share of battery electric vehicles is expected to reach 8.7% in November, the report added.
The demand for light vehicle has increased in the U.S., favoring affordable subcompact crossovers and pickup trucks instead of larger luxury models in the face of economic uncertainties.
“Retail sales are showing sustained progress in November, aided by a combination of rising inventory, the beginning of year-end clearance promotional activity, and quite possibly relief from lower interest rates,” said principal analyst at S&P Global Mobility Chris Hopson.
S&P Global Mobility added that despite lower inventory levels for electric vehicles, November and December could have battery EV share advances in anticipation of Federal EV incentives being withdrawn next year.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Alan Barona)