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Fleet Sales Keep Climbing

April increase is the latest in a nine-month streak.

May 8, 2023
Fleet Sales Keep Climbing

The uptick in fleet deliveries helped fuel overall new-vehicle sales in April.

IMAGE: Pixabay/viarami

1 min to read


Sales into large fleets continued a streak of gains in April, surging 39% year-over-year to more than 214,000 units.

The Cox Automotive statistics exclude sales to dealer and manufacturer fleets.

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Cox reported that combined sales into large commercial, government and rental fleets have now posted nine consecutive months of double-digit year-over-year upticks.

Sales to commercial fleets rose 12%, those to government fleets rose 54%, and sales to rental fleets rose 64%, Cox said.

The surge in fleet deliveries helped fuel overall retail sales in April, whose results bested Cox’s forecast for the month. The fleet share of retail sales reached 17.5%, up 2% year-over-year.

“The major automakers appear to be preemptively pulling the fleet lever to stymie any significant increase in retail inventory,” said Cox Senior Economist Charlie Chesbrough.

“April’s new-vehicle sales were driven by larger-than-expected sales into fleet, particularly in the rental channel, but we haven’t seen clear evidence that overall new-vehicle demand is waning either. However, automakers aren’t taking any chances.”

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Stellantis led large carmakers in year-over-year fleet volume increases, followed by General Motors, though none had less volume.

LEARN MORE: New-Vehicle Sales Up

 

 

Originally posted on Auto Dealer Today

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