Analysis: The actions of the UAW will reverberate through the larger auto business, but nowhere near what was experienced in April 2020. Sales into fleet could suffer in 4Q if a strike is wide and persists. Rental car companies may return to the used car market like they did in 2021 and 2022, driving prices higher.
Broken down, government fleets were up 5.9% YOY, commercial fleets down by 0.1%, and rental fleet volume down 33% from last May.
Combined sales into large rental, commercial, and government buyers were down 30% year over year in February.
While government fleet procurement plunged during the pandemic, it’s now back on the rise.
Fleet electrification has been a focus at Geotab Extend, with executives discussing resale value, battery health, total cost of ownership, and cost of tracking.
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