Quote:
Originally Posted by GreenTeaFrapp
You think it's all people buying those vehicles? GM sells a lot of fleet vehicles to rental car agencies and police departments.
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http://horisly.blogspot.com/2009/03/...plunge-53.html
General Motors dealers in the United States delivered 127,296 vehicles in February, down 52.9 percent compared with a year ago, driven by a 75 percent reduction in fleet sales.
I'm aware of the fleet component, but the above article, where I pulled the orginal numbers, seems to suggest that those fleet sales are down even more of percentage than the overall drop than regular sales, meaning they make up less of a percentage than they have of overall sales.
And that makes sense...like everyone else, institutional/fleet sales are as affected. With uncertaintly, it makes business sense to hold onto current vehicles instead of the usual life cycle in service for those fleet buyers.
On the trip we just returned from, the car we had rented had 43K KM's...never rented a car that had that many km's, I am guessing the rental agencies are holding onto cars an extra 6 months or year or longer.
Also, the rental agency we used had numerous foriegn models to choose from, Hyundi's and Toyota Corrolla's and Camry's...its not just a big 3 market anymore.