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Automotive News recently reviewed a fair amount of data to answer a question; which automakers are selling more vehicles to rental car companies? Previously, the big three would do "fleet dumping" as a way to prop up sales for the month. But now, Ford and General Motors have actually cut back on selling to rental fleets and number of Asian automakers are picking up the slack. Automotive News compared sales to rental fleets in 2012 to this year's numbers, and GM has reduced its sales to fleets from 18.6 percent (nearly one-fifth of their total sales) to 13.6 percent. It should be noted that GM is still the top rental car provider with 378,219 vehicles through November. But GM is the only automaker to reduce its rentals this year (down 11 percent through November). Ford has also seen its share of fleet sales drop from 15.4 in 2012 to 11 percent this year. Automotive News does note that Ford's fleet volume has increased 23 percent through November of this year. Meanwhile, Asian automakers are increasing their sales with Hyundai and Kia leading the charge. Through November, 22.4 percent of Hyundai's total sales were for rental fleets. Contrast this to just 9.9 percent in 2012. Jessica Caldwell, an analyst for Edmunds.com says a possible reason for this is people are buying up crossovers and trucks, and Hyundai and Kia don't make that many. "Anytime an automaker is under pressure to protect market share, it's tempting to count on the daily rental business to dial up more volume," said Caldwell. Source: Automotive News (Subscription Required) -
Automotive News recently reviewed a fair amount of data to answer a question; which automakers are selling more vehicles to rental car companies? Previously, the big three would do "fleet dumping" as a way to prop up sales for the month. But now, Ford and General Motors have actually cut back on selling to rental fleets and number of Asian automakers are picking up the slack. Automotive News compared sales to rental fleets in 2012 to this year's numbers, and GM has reduced its sales to fleets from 18.6 percent (nearly one-fifth of their total sales) to 13.6 percent. It should be noted that GM is still the top rental car provider with 378,219 vehicles through November. But GM is the only automaker to reduce its rentals this year (down 11 percent through November). Ford has also seen its share of fleet sales drop from 15.4 in 2012 to 11 percent this year. Automotive News does note that Ford's fleet volume has increased 23 percent through November of this year. Meanwhile, Asian automakers are increasing their sales with Hyundai and Kia leading the charge. Through November, 22.4 percent of Hyundai's total sales were for rental fleets. Contrast this to just 9.9 percent in 2012. Jessica Caldwell, an analyst for Edmunds.com says a possible reason for this is people are buying up crossovers and trucks, and Hyundai and Kia don't make that many. "Anytime an automaker is under pressure to protect market share, it's tempting to count on the daily rental business to dial up more volume," said Caldwell. Source: Automotive News (Subscription Required) View full article
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By William Maley Staff Writer - CheersandGears.com March 25, 2013 For a time, young buyers that wanted a vehicle ventured towards the Japanese brand since they offered the features and content they were looking for. Now the tide is changing with younger buyers going towards American and Korean brands. Bloomberg gathered data from Edmunds and R.L. Polk which showed American automakers increased their share of retail registrations by 1.9% with 18 to 24 year olds and 1.5% with 25 to 34 year olds since 2008. Korean automakers saw the largest jump in retail registrations with a 6.8% increase in 18 to 24 year olds and 5.1% increase in 25 to 34 year olds. Japanese automakers have been taking brunt of the loss with a drop of 9.8% in 18 to 24 year old group and a 7.7% drop in the 25 to 34 year old group. Japanese automakers still dominate the 35 and under crowd with 43% percent of sales going to them. So what are the American and Korean automaker doing to claw some of these sales? Building vehicles that appeal to young buyers. "U.S. automakers have burst onto the scene in recent years with small, fuel-efficient and affordable cars that really appeal to a young set of buyers," said Jessica Caldwell, an analyst with Edmunds. Source: Bloomberg William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. -
By William Maley Staff Writer - CheersandGears.com March 25, 2013 For a time, young buyers that wanted a vehicle ventured towards the Japanese brand since they offered the features and content they were looking for. Now the tide is changing with younger buyers going towards American and Korean brands. Bloomberg gathered data from Edmunds and R.L. Polk which showed American automakers increased their share of retail registrations by 1.9% with 18 to 24 year olds and 1.5% with 25 to 34 year olds since 2008. Korean automakers saw the largest jump in retail registrations with a 6.8% increase in 18 to 24 year olds and 5.1% increase in 25 to 34 year olds. Japanese automakers have been taking brunt of the loss with a drop of 9.8% in 18 to 24 year old group and a 7.7% drop in the 25 to 34 year old group. Japanese automakers still dominate the 35 and under crowd with 43% percent of sales going to them. So what are the American and Korean automaker doing to claw some of these sales? Building vehicles that appeal to young buyers. "U.S. automakers have burst onto the scene in recent years with small, fuel-efficient and affordable cars that really appeal to a young set of buyers," said Jessica Caldwell, an analyst with Edmunds. Source: Bloomberg William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article
