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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%.
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GM has overtaken Ford as the leader in the commercial channel, Ford remains on top in government fleet sales, while Stellantis’ share dropped.
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Some manufacturers may be shifting more of their sales to fleet as they see retail sales soften due to consumer economic concerns.
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The supply issues plaguing automotive are ameliorating month over month, but to varying degrees depending on fleet type.
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Only three of eight major market segments saw seasonally adjusted prices that were higher year over year in September. The full-year Manheim Used Vehicle Value Index forecast is expected to finish the year down nearly 14% YOY, up from the second quarter’s revised forecast of a 6% decline.
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If retail consumers avoid buying new vehicles because of high inflation and interest rates, then OEMs may route more of them into fleet and lease channels.
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Combined sales into large rental, commercial, and government fleets were up 14.6% year over year in August.
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Sales into commercial fleets were up 37% and sales into government fleets were up 28% last month compared to August 2021.
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Sales into commercial fleets were up 19% year over year, and sales into government fleets were up 31%, but rental were down 7%.
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The first-half total of 341,983 units marks the lowest rental fleet sales in at least 20 years — easily eclipsing the nadir of 788,349 units in H1 2011 as the industry dug out of the Great Recession.
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