Automotive News: Domestics cut rental fleet sales
In a review of its industry sales data, Automotive News has found that the domestic automakers are curtailing large-scale sales to rental fleets, while some Asian OEMs have been picking up the slack.
General Motors especially has curtailed its “fleet dumping” in recent months, Automotive News says, while Hyundai, Kia, Nissan and Toyota (the latter two to a lesser degree) have seen an uptick over the same period of time.
The outlet also compared historical fleet sales figures to this year’s numbers, and found that only 13.6% of GM’s sales in 2015 so far were accounted for by rental fleet; in 2012, that number was 18.6–nearly one-fifth of the company’s total sales volume.
Of the “Detroit Three,” FCA is faring the worst, flirting with a total that could rival its 2012 numbers. Ford’s numbers have been more haphazard. While the company’s fleet sales have decreased from 15.4% of their total volume in 2012 to just 11% this year, their fleet volume has actually increased slightly year-to-date.
Hyundai, on the other hand, is trending the other direction. Through November, a whopping 22.4% of the company’s volume has gone to rental fleets. In 2012, that figure was below 10%.
An analyst for Edmunds.com said the corresponding uptick in rental sales from automakers such as Hyundai and Kia reflects their brands’ dependence on cars and car-based crossovers.
In other words? Trucks are hot, and the Koreans don’t sell many.