Increases in rental and government fleet sales offset another decline in commercial fleet sales.
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Fleet/lease sales are one factor spurring the volume, with 5-year-and-below vehicle sales up 32% so far this year.
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Commercial fleet sales were down more than 14% last month, tying its January decline and continuing a string of monthly losses.
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Year-to-date sales in commercial, rental, and government fleet sectors are scraping 600,000 vehicles sold.
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The latest numbers more activity in the lanes at Manheim in the second half of the month and finished the last week of February with some of the strongest weekly gains in wholesale prices for many years.
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Rental fleet sales gain by a fifth compared to last year while commercial fleet sales dip by double digits.
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Four years after COVID emerged, vehicle prices are easing down amid some supply kinks, electric vehicle uncertainty, rising operational costs, and AI potential.
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The end-of-year tallies show a healthy 28% annual increase across commercial, rental, and government fleet sectors.
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Bobit releases the latest aggregate numbers for specific fleet sectors as total sales look to close out 2023 well ahead of last year.
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The recent Fleet Forward Conference presented updates to the fleet, used vehicle, and electric vehicle supply and demand.
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