Fleet share of total sales was 15% in March 2022, up nearly 2% from the March 2021 fleet share, but the number of vehicle sales remained down 11% year over year.
Seasonally adjusted rates point to an inventory mix with more newer vehicles, which means fewer affordable options.
Cox Automotive is forecasting a strong year for CPO at three million units, an increase year over year and above the record set in 2019.
Combined sales into large rental, commercial, and government buyers were down 30% year over year in February. Sales into rental were down 52% YOY.
Inventory has improved since last summer’s supply drought, but availability remains well below pre-COVID levels.
Despite squeezed supply, the used-vehicle market has been playing a key role in the recovery of the automotive industry.
Demand is strong and expected to break records in 2022 because CPO fits an important sweet spot in the vehicle market.
Combined sales into large rental, commercial, and government buyers were down 32% year over year in December and down 4% full-year 2021 versus 2020.
Manheim Forecast: Tax refunds and a supply-constrained market will likely lead to another round of price increases in the first half of 2022
Despite constrained inventory, the used-vehicle market has been playing a key role in the automotive industry recovery.
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