If retail consumers avoid buying new vehicles because of high inflation and interest rates, then OEMs may route more of them into fleet and lease channels.
Combined sales into large rental, commercial, and government fleets were up 14.6% year over year in August.
Sales into commercial fleets were up 19% year over year, and sales into government fleets were up 31%, but rental were down 7%.
Broken down, government fleets were up 5.9% YOY, commercial fleets down by 0.1%, and rental fleet volume down 33% from last May.
The maker of an all-electric commercial pickup truck now plans to start production later this year as it aligns and draws on capital funding sources.
Looking at automakers, year-over-year changes in fleet sales differed by manufacturer, ranging from a decline of 97% to an increase of 28%.
Bill Gibson, director of national sales for ELMS, passed away on August 26, 2021, in Orlando, Fla., following a brief illness. Gibson is best remembered for his fleet career at General Motors, where he retired on April 30, 2011, as director, sales for General Motors Fleet & Commercial Operations. He worked at GM for 38 years, which included 21 years in GM Fleet & Commercial Operation, which included rental, commercial, and global fleet sales.
Xos Hub is a mobile charging station so fleet customers can access charging infrastructure at their fleet yard.
Because of the difficulties in sourcing vehicles and long lead times during the 2021 model-year, most commercial fleets say they will acquire more vehicles, but concerns linger about product availability.
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