OEMs Seeing More Inventory as Days Supply Rises
The total U.S. supply of available unsold new vehicles opened May at 51% above a year ago, but volume is still down 26% from 2019 levels.
Hincklease
CAS Miami (College Auto Sales of Floria LLC)
United Leasing Inc. DBA United Leasing & Finance
The total U.S. supply of available unsold new vehicles opened May at 51% above a year ago, but volume is still down 26% from 2019 levels.
The share of new-vehicle sales from luxury brands drove up average transaction prices, when combined with fewer discounts and incentives, caused new vehicle affordability to fall.
Commercial fleet sales were down more than 14% last month, tying its January decline and continuing a string of monthly losses.
ICRS 2024: The annual industry update relayed positive signals for overall industry growth amid some uncertainties and volatility for auto rental fleets.
Year-to-date sales in commercial, rental, and government fleet sectors are scraping 600,000 vehicles sold.
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.
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