Complete Fleet Gross sales Falling Additional Behind 2023 Ranges – Automobile Analysis

General, year-to-date fleet gross sales widened their decline final month in comparison with 2023 ranges as industrial fleet gross sales fell at a better price, in response to month-to-month Bobit fleet gross sales knowledge launched Oct. 1.

Fleet gross sales for the primary three quarters of 2024 have been 1,651,900, down 2.7% from 1,698,052 autos bought throughout the identical interval of 2023. 2024 fleet gross sales started flatlining in July.

The YTD decline could be attributed to an 8.4% dip in industrial fleet gross sales up to now this 12 months to 636,533 autos from 695,242 fleet autos bought within the first 9 months of 2023.

Rental fleet gross sales are nonetheless up YTD at 804,089, for a rise of 1.3% in comparison with 793,561 rental autos bought the primary three quarters of 2023.

Based mostly on the automakers’ stories, authorities fleet gross sales stand at 211,278 autos bought YTD, up 1% from 209,249 gross sales in the identical interval final 12 months.

The fleet sector breakdown of September 2024 versus September 2023 gross sales:

• Industrial Fleets: 62,359 autos have been bought into industrial fleets in September 2024, in comparison with 70,645 in September of final 12 months, for a decline of 11.7%.
• Rental Automotive Fleets: 63,400 autos have been bought into rental fleets in September 2024, in comparison with 62,436 in September final 12 months, for a 1.5% enhance. Nonetheless, gross sales spiked by 20,932 autos in comparison with the 42,468 bought into rental fleets in August.
• Authorities Fleets: Gross sales fell 12.3% to 18,697 autos in September 2024 from 21,319 in September final 12 months. (Be aware: Apples-to-apples comparisons with authorities fleet gross sales are usually not potential as a result of a number of OEMs don’t report gross sales month to month. In July, Hyundai, Nissan, Subaru, and Toyota didn’t report gross sales to authorities fleets.)

The mixed gross sales for the three fleet sectors in September totaled 144,456 autos, down 6.4% from the September 2023 whole of 154,000 fleet automobile gross sales.

“New automobile gross sales into the rental fleets in September rose by nearly 21,000 items, or nearly 50%, versus August, which is able to present much-needed late-model used items when these further items come out of rental service,” stated Tom Kontos, chief economist and analyst at Adesa. “Alternatively, industrial fleet gross sales confirmed month-over-month and year-over-year declines, limiting the provision of those items when they’re remarketed a number of years from now. All in all, whole fleet gross sales of all kinds are down modestly on a year-to-date foundation, indicating that the used automobile provide of those items will stay pretty tight sooner or later.” 

Bobit, proprietor of Automotive Fleet, Automobile Remarketing, and Auto Rental Information, compiles fleet gross sales numbers that mirror combination figures from the three main Detroit-based auto producers and the Asian Large 6 automakers.