Data Point
Fleet Sales up Slightly in February, Continue to Track Lower Year Over Year
Thursday March 5, 2020
Article Highlights
- Combined rental, commercial and government purchases of new vehicles were up 2.7% year over year in February.
- Commercial vehicle sales were up 8.7% year over year in February.
- FCA in February was the top performer with fleet sales increasing 46% year over year from a low base and overtaking General Motors, which led fleet sales last month.
Year-over-year growth in fleet sales continue to track lower than last year even as combined rental, commercial and government purchases of new vehicles were up 2.7% in February. Total fleet volume in February was 278,561, up slightly from 271,130 in February 2019. Commercial vehicle sales were up 8.7% year over year in February.
Retail sales of new vehicles were up 9.9% in February, leading to a retail seasonally adjusted annual rate (SAAR) of 13.4 million, up from 12.9 million last February and down from January’s 13.9 million rate.
February total new-vehicle sales were up 8.4% year over year, with one more selling day compared to February 2019. The February SAAR came in at 16.8 million, an increase from last year’s 16.5 million and down from January’s 16.9 million rate.
FCA in February was the top performer with fleet sales increasing 46% year over year from a low base and overtaking General Motors, which led fleet sales last month. Nissan saw the largest fleet sales drop again this month at -44%, according to our analysis of the data, compared to February 2019.
Toyota and Ford had lower sales in February, decreasing slightly below 1%. February continues Q1, as expected by our team, with lower fleet sales than the prior year.