While Germany’s overall passenger car market figures declined in February, the fleet market reported positive numbers for the first time since June 2021, according to market research firm Dataforce.
The fleet market posted a 6.1% increase in February as the overall market slowed by 3.2%. The private market also grew by 21.1%. The car rental companies lost the most clearly with -26.8% after a very strong January, reports Dataforce.
The upswing in the fleet and private segments are due to manufacturers supplying particularly high-margin channels in times of semiconductor shortages. In addition, in the relevant fleet market, the channel has been on an upward trend in recent years. Demand from businesses for company cars continues to increase significantly.
Battery electric vehicles (BEV) market share grew by 54.9% in the overall German market compared to February 2021, besting market share of all other drive types. Fleet managers have used the better availability of BEVs to replenish their stocks, says Dataforce.
Contrasting the passenger car market, no growth was recorded in light commercial vehicles and car utilities compared to February 2021. The van market fell relatively significantly at -7.7%. A decline of -10.2% in the relevant fleet market, which makes up the majority of the market, is particularly significant, according to Dataforce.
Originally posted on Global Fleet Management