February 2025 Fleet Sales Decline Year-Over-Year but Rise from January
Fleet vehicle sales declined 12.3% year-over-year in February 2025, totaling 195,892 units compared to 223,263 in February 2024, though they saw a 19% increase from January’s 157,772 sales. Among fleet sectors, commercial fleet sales dropped 9.2% to 61,368 vehicles, rental fleets declined 13.3% to 116,141, and government fleet sales fell 15.4% to 18,383, with government figures reflecting only Detroit-based manufacturers. Year-to-date fleet sales reached 353,664 units, down 7.5% from the 382,422 sold in the same period last year. The data, compiled by Bobit Business Media, includes vehicles from major U.S. and Asian automakers.
February Used-Vehicle Market Trends: Prices Decline, Sales Rise, and Consumer Confidence Drops
Wholesale used-vehicle prices declined in February compared to January on a seasonally adjusted basis, with the Manheim Used Vehicle Value Index (MUVVI) decreasing to 204.1, reflecting a 0.1% year-over-year increase. Non-adjusted prices rose 1.4% from January and 0.8% year over year, with volatility driven by winter conditions and a slower start to the tax refund season. Manheim Market Report (MMR) values showed late-month appreciation, while retail used-vehicle sales rose 8% from January. New-vehicle sales declined 0.7% year over year but increased 10.6% from January, with fleet sales down 12.3%. Rental risk unit prices and mileage were higher year over year, and consumer confidence declined, with inflation expectations rising. Gas prices remained steady at $3.10 per gallon, down 7% from the previous year.
Trump's Auto Tariff Exemption Offers Temporary Relief Amid Trade Disputes
President Donald Trump has granted a one-month exemption from his 25% tariffs on Canadian and Mexican auto imports for vehicles complying with USMCA rules, temporarily stabilizing Wall Street after significant losses. Despite this reprieve, Trump reaffirmed his trade stance, citing fentanyl smuggling concerns. The exemption benefits Ford, GM, and Stellantis, whose vehicles meet North American content requirements, while uncertainty lingers over potential exemptions for energy and agricultural imports. Canada and Mexico have threatened retaliation, with Canada considering leveraging oil exports and Mexico seeking alternative buyers for crude. The tariffs, which could add up to $7,000 per vehicle, pose risks to automakers and consumer confidence. Meanwhile, economic indicators show slowing U.S. job growth and market uncertainty, with businesses reacting preemptively by raising prices.