As the wholesale market returns to a new normal following the pandemic, this seminar looks at an overview of the current market, including inventory and pricing, as well as emerging trends.
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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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In another high profile indicator of consumer EV skepticism, the auto rental giant will sell off the EVs to avoid further financial losses.
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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 latest collective figures from the Detroit Big 3 and the Asian Big 6 show a dip in October but sales are still up by a third for the first 10 months of 2023.
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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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