Sales to large rental, commercial, and government fleets experienced a decline this November compared to the previous year. Cox Automotive’s analysis of Bobit’s data revealed an 8.9% drop in sales to large fleets (excluding dealer and manufacturer fleets) in November, with 146,685 units sold. On the other hand, sales to government fleets saw an 8.0% increase, while rental fleets experienced a 1.2% uptick. However, commercial fleets took a significant hit with a 21.9% decrease.
Cox Automotive Senior Economist Charlie Chesbrough noted, “In November, the Detroit Three faced substantial drops in fleet sales compared to the previous year. However, Toyota and Subaru saw more moderate declines, indicating an overall trend of scaling back in fleet sales beyond the impacts of the recent strikes.”
In terms of specific automakers, Nissan saw the largest increase in sales to fleet customers among large-volume automakers in November. Conversely, General Motors experienced the largest year-over-year decline.
In addition to the fleet market, November’s retail sales were estimated to be up 10.2% compared to last year, resulting in an estimated retail SAAR of 13.0 million—up 1.1 million from last year’s 11.9 million pace, but down slightly from October’s 13.4 pace. Fleet market share was estimated to be 14.7%, representing a drop from last year’s 16.9% share.
The November figures demonstrate the ongoing trend of lagging fleet sales in comparison to retail sales, which is an important factor to consider for the automotive industry.
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