Seasoned public sector fleet manager Brandon Walton shares how he controls his fleet budget amid uncertain times.
Days’ supply climbed to 49, the highest since May 2021. The question now is: Will demand keep up with supply?
Despite elevated vehicle prices, soaring interest rates and high inflation, there are no signs that demand is falling off yet.
But don't get too excited. Days supply is still far below historical levels and production has yet to catch up to demand.
The average price paid for a new vehicle in America now tops $48,000. Supply of popular segments – like subcompacts, hybrids and EVs – remain low.
Sales into commercial fleets were up 37% and sales into government fleets were up 28% last month compared to August 2021.
The average price for a new electric vehicle – over $66,000, according to Kelley Blue Book estimates – remains well above the industry average and more aligned with luxury prices versus mainstream prices.
As gas prices surged to record levels, inventory of imports, especially smaller, fuel-efficient models, including hybrids, was among the lowest in the industry at the end of May.
The LEAF is refreshed for 2023, with updated exterior and interior design, standard technology, new aluminum-alloy wheels, and a streamlined model lineup.
With record-high prices, low incentives, and a higher interest rate, the estimated typical monthly payment increased to a new record high at $687, which was up 20.7% year over year.
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