With production levels returning to normal and retail demand only modestly improved, sales to fleet channels have increased dramatically.
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Vehicle shoppers now have a much better chance of finding something that fits their needs as improved supply relieves pent-up demand.
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Overall sales are up in the quarter, including for fleets. However, headwinds are growing and inventory levels are moving back above the pre-pandemic normal, suggesting a slowing of demand.
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Hurricane damage, high interest rates, softening used values, and a slowing economy will all have some effect on the coming used vehicle market. The greater issue is even lower sales — as the historic decline in the lease return rate from 2022 meets up with a big drop in lease maturities and lower dealer consignments.
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The unified brand brings together a more complete array of services for light, medium and heavy-duty trucks and trailers.
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The unit encompasses four business solution areas: Fleet Services, Fleet Operations, EV Battery Solutions and Emerging Ventures.
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The agreement with Cox gives ELMS customers access to more than 6,000 service centers, 3,000 partner locations and 800 mobile technicians nationwide.
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The collaboration promotes safe deployment of second-life use for Xos battery packs nearing end-of-life.
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August figures show sales into rental increased 118% year over year in August and are up 7% compared to the same time period last year.
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The third-party battery health diagnostic tool will strive to become the industry standard to assess the condition and value of EV batteries.
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