2024 Fleet Automobile Gross sales Linger Beneath 2023 Ranges – Automobile Analysis
Rental fleets have been down 16.2% year-over-year in December 2024 at 92,386 automobiles in comparison with 110,198 automobiles offered in December 2023.
Complete U.S. fleet automobile gross sales eased down by 2.5% in 2024 as OEMs seem like assembly the demand of fleet operations which have restored fleet sizes for the reason that pandemic that constricted provide, based on Bobit/Automotive Fleet gross sales knowledge launched Jan. 6.
Rental and authorities fleet automobiles confirmed slight features for 2024, which wasn’t sufficient to offset the bigger decline in industrial fleet automobiles offered.
Rental fleet automobiles comprised nearly half of all fleet automobile gross sales in 2024.
Amongst all industrial, rental, and authorities sector fleets, complete gross sales for the yr reached 2,125,441 automobiles, in comparison with 2,179,751 automobiles in 2024 and 1,698,656 in 2022. That represents a 2.5% lower over 2023 and a 20% lower over 2022.
Broke down by fleet sector, 2023 gross sales figures present:
- Business gross sales totaled 814,391, down 8.3% from 888,123 in 2023.
- Rental fleet gross sales reached 1,036,830 up a slight 1.7% from 1,019,225 in 2023. Rental vehicles took 49% of the whole fleet automobile gross sales final yr.
- Authorities gross sales got here in at 274,220 automobiles, up 0.7% from 272,403 in 2023.
Fleet Gross sales Finish Yr With a Double-Digit Dip
Among the many three fleet sectors, December 2024 gross sales ended the yr down 11.6%, at 178,395, in comparison with 201,808 in December 2023.
Month-to-month gross sales figures damaged down by fleet sector embody:
- Business fleet gross sales have been 64,978 automobiles final month in comparison with 69,647 in December 2023, a decline of 6.7%.
- Rental fleets have been down 16.2% year-over-year in December 2024 at 92,386 automobiles in comparison with 110,198 automobiles offered in December 2023.
- Authorities fleet gross sales final month have been 21,031 automobiles, down 4.2% from 21,963 in December 2023. [Hyundai, Nissan, Subaru and Toyota did not report any monthly fleet sales].
“For the total yr, total fleet gross sales declined towards 2023, however the tempo of fleet gross sales diversified over the yr, very similar to the broader market total,” stated Jeremy Robb, senior director of financial and business insights for Cox Automotive, in a Jan. 6 electronic mail. “Business fleet clients might have fulfilled most of their pent-up demand final yr in 2023 and pulled again as the costs of latest automobiles remained excessive over the course of the yr (and even rose over the fourth quarter). Rental clients confirmed extra demand earlier within the yr as they rebuilt their total fleet from the pandemic earlier than backing off within the second half of 2024.”
One issue contributing to the flatter fleet gross sales was the OEMs producing and promoting extra high-end luxurious automobiles to shoppers than earlier than, Robb stated, which aren’t the identical varieties of automobiles sought by fleet operations.
Bobit Enterprise Media (BBM), proprietor of Automotive Fleet, Automobile Remarketing, Authorities Fleet, and Auto Rental Information, compiles fleet gross sales numbers that replicate combination figures from the three main Detroit-based auto producers and the Asian Massive 6 automakers.
