Preparing to Reconnect
The ‘Word on the Street’ campaign is looking at ways we can all be more productive and more creative as we prepare to reconnect after spending a year in isolation.
New Car Prices Are Skyrocketing This Spring
Many buyers in 2021 are paying more for new vehicles compared with last year as incentive spending drops and average transaction prices (ATP) rise, and this trend could increase as the global microchip shortage continues to affect production for many models. Ford cited an average transaction price of $43,600 in April.
This is the result of low inventory and high demand for new vehicles causing automakers to reduce incentives. With fewer vehicles on dealer lots but strong consumer appetites for new cars, automakers are rolling out fewer incentives. Spending fell by nearly 16 percent during the first quarter.
Many auto executives believe that the chip shortage will worsen in the second quarter of 2021, which could further impact inventories and drive prices even higher. In the second half of the year the supply and demand could start to balance out. If you can hold off on your new-vehicle purchase for a few more months, your wallet might thank you.
Read the article at Autoblog.
Attend the AFLA Canada Fleet Summit Online
After great success last year, AFLA is pleased to announce its second Canada Fleet Summit. This virtual event is happening June 9th and 10th and offers a great mix of education and networking.
Brendan P. Keegan and Merchants Fleet Win Dual Honors from Business NH Magazine
Merchants Fleet has been recognized with dual top honors from Business NH Magazine’s annual Business of the Year Awards, marking only the second time in thirty years that the same business has won both Business Leader and Business of the Year simultaneously.
Business NH Magazine and the NH Association of Chamber of Commerce Executives named Merchants CEO Brendan P. Keegan the 2021 Business Leader of the Year.
Keegan joined Merchants in 2018, having previously served the company as a client, board member, Compensation Committee chair and strategic advisor. During Brendan’s three-year tenure as CEO of Merchants, he has developed & executed a visionary strategic plan, launched 4 new business lines, led the effort on a $55 Million growth financing infusion from Bain Capital Credit, relocated the corporate headquarters to a state-of-the-art 55,000 SF facility in Hooksett, NH, implemented a major rebranding initiative, and more.
Mastering the Migration to EVs
Our lead article this week is Ed Pierce’s interview with John Cail, senior vice president of Mobility at Merchants Fleet. The fleet management company has experienced impressive growth and is poised for a blockbuster 2021.
Cail talks with Pierce about the company’s electric vehicle strategy and other key initiatives that have contributed to Merchants' success. He says, “Ultimately, this decision isn’t as simple as the asset anymore. Today, the decision to move to EVs goes all the way up to the boardroom where the company is making a decision to support sustainability.”
“Government is in good stead because of the mandates of the current administration, which will push agency fleets to adopt that EV sustainability play,” Cail notes.
Cue this CNN article: Kids are taking governments to court over climate. And they are starting to win. From the article: “The cases are most often centered around the idea that future generations have a right to live in a world that is not completely decimated by the climate crisis.”
Save the planet for our kids!
Janice Sutton
Editor in Chief
