June fleet gross sales figures shut out the half-year mark in fleet gross sales for 2024.
Fleet car gross sales throughout three primary sectors fell in June leading to a year-to-date gross sales whole barely above final 12 months’s mark, in accordance with month-to-month and mid-year fleet gross sales figures launched by Bobit on July 2.
Regardless of shedding month-to-month momentum, fleet gross sales in business, rental, and authorities sectors for the primary half of 2024 hit 1,224,644 automobiles, up 2% from the 1,200,113 automobiles bought within the first six months of 2023.
However month-to-month fleet gross sales for the three sectors fell once more in June with 198,693 automobiles bought into fleets, down 8.7% from the 217,572 automobiles bought in June 2023.
“I’m shocked by the slowdown in rental and business fleet gross sales, which in occasions previous might need as a substitute had an uptick as retail new car gross sales softened,” stated Tom Kontos, chief economist for ADESA Auctions U.S. “I can solely presume that rental and business fleet demand has been higher happy currently after years of undersupply throughout and instantly after the pandemic.
Bobit, proprietor of Automotive Fleet and Auto Rental Information, compiles fleet gross sales numbers that mirror combination gross sales from the three main Detroit-based auto producers and the Asian Large 6 producers.
Damaged Down by Fleet Sector
- Business: 79,867 automobiles had been bought into business fleets in June 2024, in comparison with 83,786 in June of final 12 months, for a decline of 4.7%.
- Rental: 94,855 automobiles had been bought into rental fleets in June, in comparison with 106,853 in June 2023, for an 11.2% drop. Rental fleets had been propping up total fleet car gross sales to date this 12 months.
- Authorities: Fleet car gross sales fell to 23,971 in June 2024 from 26,933 in the identical month final 12 months, dropping 11%. (Word: Apples-to-apples comparisons with authorities fleet gross sales aren’t potential resulting from a number of OEMs not reporting any gross sales from month to month. For the month of June, Hyundai, Nissan, Subaru, and Toyota didn’t report any gross sales into authorities fleets).
“I’m nonetheless am inspired by the year-to-date figures, which nonetheless present a modest enhance that bodes effectively for future used car provide,” Kontos stated.
