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
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 →
California Hybrids Reach State Record
The Golden State still leads the country in electric-vehicle registrations, but much like the rest of the U.S. its hybrid market share is up while full electrics stabilize after a dramatic first-quarter dip.
Read More →
My Mercedes in the U.S.
The German brand debuted its studio dealership concept for the first time in the states in Los Angeles, tapping Americans’ penchant for creative distinctions.
Read More →
Used Sales Hit Summer Drag
The vacation season, combined with high prices, has dented deliveries and added to inventories, though supply is still slim enough to keep listings elevated.
Read More →
California Launches EV Rebate Program
Participating automakers are matching the state's $13.5 million investment in new electric-vehicle rebates scheduled to take effect later this summer.
Read More →
OEM Poll Sees Industry Evolution
Kerrigan Advisors’ survey of automakers finds that tariffs, technology, network tightening and other factors are poised to reshape auto retail.
Read More →
The Trade-In Paradox
Retailing older cars with confidence in today’s market is a matter of establishing and following a clear process that can turn greater profit for auto dealers as they aim to meet used-unit hunger.
Read More →
Focus on Vehicle Cabins
The market for interior materials will grow in coming years as automakers look to meet consumer demand while staying competitive with changeups to sourcing and included features.
Read More →