Car, truck, and SUV sales from nine automakers into large rental, commercial, and government fleets increased 26% in September compared to the previous year.
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Analysis: The actions of the UAW will reverberate through the larger auto business, but nowhere near what was experienced in April 2020. Sales into fleet could suffer in 4Q if a strike is wide and persists. Rental car companies may return to the used car market like they did in 2021 and 2022, driving prices higher.
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U.S. fleet sales for August were strong and reached levels for the month not seen since 2019.
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All large manufacturers showed gains in fleet over last year, with combined sales into large rental, commercial, and government fleets improving.
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With production levels returning to normal and retail demand only modestly improved, sales to fleet channels have increased dramatically.
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Estimates shows strong sales gains from rental, government, and commercial sectors as the supply chain squeeze of 2021-22 continues to ease.
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Major automakers appear to be preemptively pulling the fleet lever to stymie any significant increase in retail inventory.
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The movement of new vehicles into fleet increases at a consecutive monthly pace with supply freeing up after several years of constraints, according to Bobit fleet data.
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Combined sales into large rental, commercial, and government fleets have seen eight consecutive months of double-digit, year-over-year increases.
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Sales into rental fleets were up 96% year over year, sales into commercial fleets were up 31%, and sales into government fleets were up 65%.
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