- Fleet shipments are expected to continue supporting overall light-vehicle sales, according to Jonathan Smoke, Cox Automotive chief economist.
- While rising fleet deliveries would historically be cause for concern, Smoke said such sales are commanding higher prices with lower incentives.
- Cox expects fleet sales to increase marginally in 2019 to a record 3.2 million vehicles, which would account for 19 percent of the roughly 16.9 million light vehicles projected to be sold in 2019.
The seasonally adjusted, annualized selling rate is projected to remain healthy in June, with estimates between 17 million and 17.3 million — even as most analysts expect industry sales this year to come in below 17 million for the first time since 2014. U.S. sales dipped 2.4 percent through May, with retail demand down and fleet sales up. U.S. sales rose 5.2 percent in June 2018, one of the biggest gains of the year, and the SAAR tallied 17.32 million. There are 26 selling days this month, down from 27 in June 2018.