The auto industry is experiencing a notable upswing, with new light-vehicle sales up 10.6% year over year in October.
Fleet sales saw a mixed performance, with large rental fleet sales up 52.5% year over year, commercial fleet sales down 7.6%, and government fleet sales up 8.7%. The estimated fleet share of 13.9% was down compared to last year’s share of 15.9%.
Wholesale used-vehicle prices were down month over month and year over year in October, according to the Manheim Used Vehicle Index (MUVVI). Wholesale vehicle values declined 0.1% in October on a seasonally adjusted basis, as the MUVVI declined to 202.8, down 3.2% from a year ago.
