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Sales of vehicles to commercial fleets increased 6.3%, while sales into daily rental increased 44.9%. Sales to government fleets increased 13%.
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FCA is recalling its 2018 Ram 1500, 2500, 3500 and Dodge Journey because the rear-view camera may experience a loss of image display.
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The pickup truck and SUV recall covers more than 177,200 2016-MY vehicles in the U.S.
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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.
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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.
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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.
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The recall covers 2015-2016 model-year Chevrolet Silverado HD, GMC Sierra HD and Chevrolet Tahoe police vehicles in the U.S. and Canada.
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The recall, which affects just 90 2016-MY trucks, will let dealers fix a problem related to the air bag sensing and diagnostic module.
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Black Book’s Market Insights report showed a decline in the used vehicle market, including compact car's 52-week steep decline.
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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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