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Analysis: The actions of the UAW will reverberate through the larger auto business, but nowhere near what was experienced in April 2020. Sales into fleet could suffer in 4Q if a strike is wide and persists. Rental car companies may return to the used car market like they did in 2021 and 2022, driving prices higher.
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Amid a nationwide shortage of truck technicians and automotive mechanics, the fleet services division finds a way to keep and train enough vocational talent for long-term careers that meet maintenance demand.
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U.S. fleet sales for August were strong and reached levels for the month not seen since 2019.
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While the total supply of unsold used vehicles is down from the same time a year ago, they are up from the end of June.
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The deal further positions Cox Mobility in the fleet maintenance sector and expands its servicing of light, medium, and heavy-duty trucks and trailers.
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Analysis: An increase in one-off moves, overall wholesale industry growth, and OEM production increases are driving prices higher versus pre-pandemic levels.
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Compared to the start of the year, transaction prices for new vehicles are down 1.7%, or $865, the largest January to June tumble in the past decade.
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The Manheim Market Report values saw above-average declines that were relatively consistent, with values declining almost 4% in the last four weeks.
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With production levels returning to normal and retail demand only modestly improved, sales to fleet channels have increased dramatically.
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Fleet sales have helped underpin the market improvement so far this year. Forecasts suggest fleet sales could increase by more than 40% year over year,
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