
Car, truck, and SUV sales from nine automakers into large rental, commercial, and government fleets increased 26% in September compared to the previous year.
Car, truck, and SUV sales from nine automakers into large rental, commercial, and government fleets increased 26% in September compared to the previous year.
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.
U.S. fleet sales for August were strong and reached levels for the month not seen since 2019.
All large manufacturers showed gains in fleet over last year, with combined sales into large rental, commercial, and government fleets improving.
Estimates shows strong sales gains from rental, government, and commercial sectors as the supply chain squeeze of 2021-22 continues to ease.
Major automakers appear to be preemptively pulling the fleet lever to stymie any significant increase in retail inventory.
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.
Combined sales into large rental, commercial, and government fleets have seen eight consecutive months of double-digit, year-over-year increases.
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%.
After fleet sales ran far below historical averages for the last three years, increases in 2023 won't be close to levels before 2020.
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