Fleet Sales Continue Upward Momentum
Boost overall US auto deliveries as inventories improve.
Cox forecasts that annual fleet sales will reach 2.2 million units.
IMAGE: Pixabay/viarami
Sales to large U.S. fleets continued to surge in February as inventories improve, and they likely boosted overall deliveries past the forecasted seasonally adjusted annual rate, according to Cox Automotive data.
The large-fleet sales, which exclude those to dealer and manufacturer fleets, jumped 48% year-over-year to nearly 184,000 units, Cox estimated.
Cox said combined sales to large rental, commercial and government fleets have seen eight straight months of double-digit year-over-year gains.
“As inventory levels increase, some automakers are choosing to sell more units into the fleet channel to keep retail supply limited,” said senior Cox economist Charlie Chesbrough.
February sales to rental fleets were up 77%, to government fleets up 42%, and to commercial fleets up 23%.
Fleet sales represented a 17.7% market share, up 3.5% year-over-year and 1.2% month-over-month.
Year-to-date fleet sales are up 52% year-over-year. By this time last year, fleet sales were down 30%.
Cox said all the big carmakers posted year-over-year fleet sales increases, the biggest gains – of more than 50% – coming at Stellantis and Ford.
It forecasts that annual fleet sales will reach 2.2 million units.
The month’s overall U.S. auto sales pace was an estimated 14.9 million units, surpassing Cox’s 14.4 million SAAR forecast.
Originally posted on Auto Dealer Today
More Showroom
California Sees Quarterly Gains
California’s new-vehicle market saw a boost in hybrids in the third quarter and its first overall quarterly market gain of the year.
Read More →
New-Vehicle Prices Stay Put
Affordability pressures and model availability shaped new-vehicle sales in September, according to an analysis by Kelley Blue Book.
Read More →
EV Buyer Consideration Shifts
What drives American consumers to purchase an electric vehicle is shifting as the question moves away from Should I?' to 'Which features and experience do I want to have?'
Read More →
Year-to-Date Auto Sales Holding Their Own
A forecast through August shows that automakers have shifted strategies to keep deliveries and revenues up despite tariffs and other economic challenges.
Read More →
Slow to Robo
Ten years of polling consumers shows autonomous vehicles’ profiles have risen considerably, but even more people now want at least some level of control if they go that route.
Read More →
Dealers a Little Down
A third-quarter Cox Automotive survey finds them in a mixed mood, bummed by fallen customer traffic but encouraged by better profits, costs and EV interest.
Read More →
European EV Sales Skyrocket
The EV market on the continent held strong in July with almost 25% of new-car sales being fully electric units, a stark contrast to the U.S., where EV sales declined about 42%.
Read More →
Mitsubishi Unveils U.S. Plan
The automaker announced a strategy that includes an expanded lineup and dealership presence, along with more ‘rugged’ and electric models.
Read More →
Used Lots Getting the Business
Many consumers are seeking out the units to save money, and the demand – higher in July than normal – is keeping supply limited and prices up.
Read More →
Used Market Stabilizes
The Carfax Used Car Index noted a major drop in used-vehicle price increases in July after several months of hikes.
Read More →