Conditions have shifted to favoring buyers, but with tight supply, the market is not far from being balanced between buyers and sellers.
Estimates shows strong sales gains from rental, government, and commercial sectors as the supply chain squeeze of 2021-22 continues to ease.
General Motor’s new suite of tailored solutions features a single sales touchpoint to access products and services for both ICE and EV vehicles.
Major automakers appear to be preemptively pulling the fleet lever to stymie any significant increase in retail inventory.
After closing out 2022 with the longest-running, sharpest decline over a single year, wholesale used vehicle prices have risen in 2023.
The movement of new vehicles into fleet increases at a consecutive monthly pace with supply freeing up after several years of constraints, according to Bobit fleet data.
The month also ended at near 41 days’ vehicle supply, down from 48 days at the end of January and 13 days lower than February 2022 at 54 days' supply.
Combined sales into large rental, commercial, and government fleets have seen eight consecutive months of double-digit, year-over-year increases.
Used vehicle prices are declining in this divergent market. Fleet sales making a comeback compared to last year.
Sales into rental fleets were up 96% year over year, sales into commercial fleets were up 31%, and sales into government fleets were up 65%.
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