Sales of vehicles to commercial fleets increased 6.3%, while sales into daily rental increased 44.9%. Sales to government fleets increased 13%.
FCA is recalling its 2018 Ram 1500, 2500, 3500 and Dodge Journey because the rear-view camera may experience a loss of image display.
The pickup truck and SUV recall covers more than 177,200 2016-MY vehicles in the U.S.
Average wholesale prices increased in April from March and from a year ago on the strength of truck values, but several benchmark segments in fleet lease sales are showing weakness, said Tom Kontos in his monthly commentary.
Sales of fleet vehicles to commercial, daily rental, and government buyers slipped lower in January, despite year-over-year growth in sales of trucks, vans, and SUVs, according to the automakers and Automotive Fleet data.
A rising supply of used pickups coupled with aggressive pricing for new models is expected to cause a weakening in values in the wholesale market, according to new data from Black Book.
The recall covers 2015-2016 model-year Chevrolet Silverado HD, GMC Sierra HD and Chevrolet Tahoe police vehicles in the U.S. and Canada.
The recall, which affects just 90 2016-MY trucks, will let dealers fix a problem related to the air bag sensing and diagnostic module.
Black Book’s Market Insights report showed a decline in the used vehicle market, including compact car's 52-week steep decline.
Used-vehicle depreciation improved toward the end of 2013, and vehicles depreciated 12.8 percent in the year, a slight pullback from the 12.4 percent depreciation in the previous year, reports Black Book.
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