The fleet sector is performing stronger than last year, outpacing the rental and government fleet sectors.
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November EV data shows sales falling to multi-year lows as inventory builds and pricing softens following the expiration of federal tax credits.
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With the expiration of federal incentives, EV success now hinges less on government policy and more on discounts, battery tech progress, increased range, and broader infrastructure.
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Of 31 major brands tracked by Kelley Blue Book, only five recorded transaction prices in August lower than year-ago levels.
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Car rental companies extended a sales spike from July, while commercial fleets continue modest growth.
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Once again, higher rental fleet sales come to the rescue making year-to-date sales level a dead break even.
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In the first month after the U.S. levied steep tariffs on the automotive sector, the rental car sector got all the gains.
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Analysis: Experts from Cox Automotive say in the near term, after a short surge in buying, vehicle sales will likely fall amid price increases, and OEMs may eliminate some models if tariffs persist.
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Rental, commercial, and government fleet sales fell against February 2024 numbers but are up after a slow start to the new year.
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About 44% of the new vehicles sold in the U.S. last year were imported from countries across North America, Europe, and Asia.
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