Fleet Sales Projected to Normalize in 2024 Across Key Segments
Bobit Research data shows that light-duty fleet sales across commercial, government, and rental segments are trending below 2023 levels, with projections for 2024 reflecting this decline. Commercial fleet sales, which saw strong recovery in 2023 due to demand in construction and delivery, are now trending lower for 2024 and are expected to soften through 2025. Rental fleets, which rebounded significantly in 2022-2023, are expected to see 2024 sales at least 40% below 2019 levels. Government fleet sales, which faced later disruptions, have reverted to normal purchasing patterns and are expected to slightly exceed 2023 and 2019 figures. Overall, fleet sales in 2024 are anticipated to fall just short of 2023 levels and remain 22% below 2019 sales.
Ford Model Cutoffs
Effective 9/13/24, Ford will be cutting off orders for the following models:
August Sees Decline in Used-Vehicle Inventory Amid Sales Surge and Reporting Disruptions
At the start of August, used-vehicle inventory was down from July and 3% lower than last year, with 2.17 million units on U.S. dealer lots. A previous DMS outage disrupted reporting, but despite this, vehicle sales increased, reducing the days’ supply to 41 days. The average listing price for used vehicles rose slightly to $25,415 but is still 5% lower than last year. Affordability remains an issue, especially for cars under $15,000, which have low availability. Ford, Chevrolet, Toyota, Honda, and Nissan were the top-selling brands, making up 51% of sales.