November 2022

 

We are continuing to see volatility in order dates and production dates due to chip and material shortages. Production windows are greatly shortened in many cases.

Remarketing is still showing higher than usual residual values.

These factors greatly benefit those fleets (owned & leased) with a comprehensive & proactive cycling plan. If you have questions about yours please don’t hesitate to reach out.​​​​​

 

 

For commercial fleets, cumulative sales for 2022 represented a 20.3% increase over 2021 — and 2.5% over 2019. On the rental side, sales are trending higher month over month as well. Yet overall for the same period, sales are still underwater to 2021 and an even greater percentage — 66% — lower than 2019. - Data: Bobit

YTD Fleet Sales Trending Positive

In a tangible sign that the supply crunch is easing, sales to commercial fleets were up over 2021 in every month to date. A 3.8% increase in January 2022 increased to a cumulative 11.6% gain by July and an overall increase of 20.3% through October.

A better indicator of a positive market correction is comparing sales to the same period in 2019, our last benchmark “normal” year. Comparing commercial fleet sales to date in 2022 compared to the same period in 2019 reveal a 2.5% increase over the same period.

On the rental side, sales are trending in the right direction as well, but are still underwater to both 2021 and 2019.

Month over month, rental fleet sales started 2022 in January at a 61.3% deficit to January 2021. That percentage steadily improved month to month. By October, the cumulative gap was down to “only” 22.8% compared to 2021. However, rental sales over the first 10 months of this year are still at a whopping 66% deficit to the same period in 2019.

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The Auto Industry Is the Economy’s Best Hope Right Now
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If you had to point to one culprit holding back the economy over the past 18 months, it would be the auto industry. Supply chain problems like the shortage of semiconductors have contributed to weak economic growth, anemic productivity, rising prices and higher interest rates as the Federal Reserve struggles to control inflation.

While the auto industry still is a long way from normal, the data we’ve gotten over the past month suggests it is finally healing, which is going to lead to some surprisingly good economic numbers over the next few quarters. We’re already seeing economic growth accelerate at the same time inflation is coming down.

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Checklist for your Vehicle’s Maintenance this Cold Season

A big part of Union Leasing’s role as a fleet leasing company is the management of your fleet after we get you vehicles, and whether we like it or not, the weather is starting to turn! So our maintenance department wants you to be prepared for the cold weather by going through this checklist and making sure your vehicle is ready to handle whatever weather comes your way.

 

Preventative Maintenance Now = Worry Free Driving This Winter

The vacations are over, the kids are back in school and cooler evenings have begun. Take advantage of this time to prepare your vehicle for the winter ahead. Breakdowns, never convenient, can be dangerous in cold weather period.

 

You can learn more here