Sales of rental car fleets plummeted last month, sending the year-to-date total to a break-even point.

Commercial, rental, and government fleets saw monthly sales decline again as 2024 totals are hovering close to 2023 levels.

The total U.S. supply of available unsold new vehicles opened May at 51% above a year ago, but volume is still down 26% from 2019 levels.

The share of new-vehicle sales from luxury brands drove up average transaction prices, when combined with fewer discounts and incentives, caused new vehicle...

Commercial fleet sales were down more than 14% last month, tying its January decline and continuing a string of monthly losses.

Year-to-date sales in commercial, rental, and government fleet sectors are scraping 600,000 vehicles sold.

Domestic brands continue to have the highest inventory while Asian imports rank lowest.

With new-vehicle inventory rising in the U.S., downward price pressure and higher incentives appear to be key drivers of the market’s momentum.

February sales figures show a major gain in new rental cars that makes up for flat or lower sales in the commercial and government fleet sectors.

Inventory levels reach the highest point since June 2020 while the number of buyers who can afford a new vehicle is the best since June 2021.