New Vehicle Supply Dips in February But Still Far Above 2023
Domestic brands continue to have the highest inventory while Asian imports rank lowest.
Domestic brands continue to have the highest inventory while Asian imports rank lowest.
With new-vehicle inventory rising in the U.S., downward price pressure and higher incentives appear to be key drivers of the market’s momentum.
February sales figures show a major gain in new rental cars that makes up for flat or lower sales in the commercial and government fleet sectors.
Inventory levels reach the highest point since June 2020 while the number of buyers who can afford a new vehicle is the best since June 2021.
Rental fleet sales gain by a fifth compared to last year while commercial fleet sales dip by double digits.
The global auto rental provider and Detroit OEM will apply enhanced technology to improve rental car operations at customer locations.
The technologies ready to streamline and strengthen the car rental industry also come with uncertainties and challenges.
The annual compendium of stats, info, trends and tidbits points to renewed business activity across the car rental industry.
The end-of-year tallies show a healthy 28% annual increase across commercial, rental, and government fleet sectors.
Independent and franchised car rental operators share their perspectives on vehicle availability and cost, fleet mix, car rental rates, incorporating technology and telematics — and how they plan to grow and change.
While rental car companies continued to grow business in 2023, the rate of increase since the pandemic is easing back to normal levels.
The total U.S. supply of available unsold new vehicles in November climbed 57%, or 925,000 units, from the same time a year ago.
Bobit releases the latest aggregate numbers for specific fleet sectors as total sales look to close out 2023 well ahead of last year.
The recent Fleet Forward Conference presented updates to the fleet, used vehicle, and electric vehicle supply and demand.
Analysis: Slowing EV adoption, an expensive UAW labor contract, and higher consumer interest rates will diminish the profits and gains of recent years.
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