While fleet sales grew 7% in 2018, volume will likely remain flat this year, a new Cox Automotive report shows.
“Will fleet sales increase again in 2019? We don’t believe so,” Cox wrote in the report.
Fleet sales totaled 2.7 million units last year.
Commercial fleet volume, up 9% to 743,000 units, was a primary driver of fleet growth. A lift in tax reform last year, which included a benefit to businesses adding or replacing vehicles to their fleets, contributed to the growth. Within commercial fleet sales, light-truck sales rose 17%, while car sales dropped 10%, the report said.
The fleet sales slowdown expected this year will likely hinge on a weakening commercial fleet channel, Cox Auto Chief Economist Jonathan Smoke said in a statement.
Meanwhile, daily rental fleet sales grew 7% year over year, to 1.7 million units, while government fleet volume inched up 2% to 268,000 units.
On the automaker side, Mazda doubled fleet sales in 2018 to 27,000 units. Fiat Chrysler and Toyota also saw gains in fleet sales, up 19% and 14% year over year, respectively. Hyundai, on the other hand, saw a 5% decrease in fleet sales last year.
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