State of the Fleet Industry: Good News and Bad News for Fleets
The 52nd State of the Fleet Industry video produced by Automotive Fleet offers an updated look at the state of the fleet market as presented by AF Editor Mike Antich.
Today's topics include:
- Retail sales continue to remain strong in the U.S. but could be even stronger if it weren’t for the ongoing microchip shortage, which is reducing overall production volumes.
- The microchip shortage is much worse than we initially thought and its impact is extending beyond vehicle assembly, and is also causing shortages in everything from telematics devices to household appliances.
- As OEMs prioritized production to build their higher margin models first – namely trucks and SUVs -- it has caused supply constraints in the inventory of vans in both the new- and used-vehicle markets, which is putting positive upward pressure on the price of used vans.
- Commercial fleets are seeing increased demand for late-model used sedans, even those with higher mileages, due to the shortage of inventory in both the new- and used-vehicle markets
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