Increases in rental and government fleet sales offset another decline in commercial fleet sales.
Overall monthly fleet sales were 216,387 vehicles in May, up 5.7% from 204,646 vehicles sold into fleets in May 2023, regaining a monthly increase for the first time since February.
Graphic: Bobit
The May fleet sales tallies from Bobit show the monthly total has regained an increase while year-to-date fleet sales are maintaining a narrow upward trendline.
Overall monthly fleet sales were 216,387 vehicles in May, up 5.7% from 204,646 vehicles sold into fleets in May 2023, restoring a monthly increase for the first time since February. Previously this year, total monthly fleet sales have fallen year-over-year in March and April, while rising in January and February.
Once again, car rental fleet sales are spurring the overall monthly figure while preserving the year-to-date increases.
Commercial Fleet Sales: 82,239 vehicles sold in May 2024, down 4.4%, from 86,111 vehicles in May 2023.
Rental Fleet Sales: 107,551 vehicles sold in May 2024, up 14.3%, from 94,113 vehicles in May 2023.
Government Fleet Sales: 26,507 vehicles sold in May 2024, up 8.5%, from 24,442 vehicles in May 2023. Note: Apples-to-apples comparisons with government fleet sales are not possible due to one or more OEMs not reporting any sales from month to month. For the month of May Hyundai, Nissan, Subaru, and Toyota did not report any sales into government fleets.
Year-to-date, fleet sales are still on the positive side, up 4.4%, to 1,025,951 vehicles sold in January-May, compared to 982,541 in the same period last year.
In the January-April period, year-to-date (YTD) fleet sales held on to a small increase, at 809,564, up 4.1% from 777,895 in January-April 2023.
And despite dips in the first quarter among the fleet categories, year-to-date fleet sales in Q1 were 599,868, up 6.4%, from 563,533 fleet vehicles sold in Q1 2023.
The one million-plus sales figure for January-May shows overall fleet sales are about halfway to the 2023 total as of May 31. Among all commercial, rental, and government sector fleets total sales for 2023 reached 2,179,751 vehicles sold compared to 1,698,656 in 2022, for a robust increase of 28.3%.
Originally posted on Automotive Fleet
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