GM has overtaken Ford as the leader in the commercial channel, Ford remains on top in government fleet sales, while Stellantis’ share dropped.
Some manufacturers may be shifting more of their sales to fleet as they see retail sales soften due to consumer economic concerns.
The supply issues plaguing automotive are ameliorating month over month, but to varying degrees depending on fleet type.
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.
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.
Combined sales into large rental, commercial, and government fleets were up 14.6% year over year in August.
Sales into commercial fleets were up 37% and sales into government fleets were up 28% last month compared to August 2021.
Sales into commercial fleets were up 19% year over year, and sales into government fleets were up 31%, but rental were down 7%.
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.
Broken down, government fleets were up 5.9% YOY, commercial fleets down by 0.1%, and rental fleet volume down 33% from last May.
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