Fueled by the surging lease/rental industry, commercial
vehicle fleets (classes 1-8) in the US market have seen a 22%
year-over-year spike for the January-June period.
Although US registrations are still 10% below pre-pandemic
levels (compared to H1 2019), fleets are showing strength once
again.
Among the trends in the fleet industry:
- The lease/rental industry is the fastest-growing vocation in
2023 after being the toughest hit by the pandemic. Fleets like
Penske, U-Haul, and Enterprise saw 40-60% decreases in new
registrations during the <span/>pandemic, but are having their largest
year since 2019. - Last-mile delivery was one of the only vocations to see <span/>new registration
increases during the pandemic and continues to shine with companies
like Amazon <span/>tripling
new registrations from 2019. - Class 5 showed the only decrease in registrations. Cab-chassis
and incomplete pickups had the most inventory during the pandemic –
resulting in a flattening of the curve in 2023.
As for electrified commercial vehicles, “last mile” delivery
vehicles have shown to be a lively sector, with more than 10,000
electric cargo vans and pickups registered in the first half of
2023. Among the other <span/>EV trends:
- New EV offerings from Ford, BrightDrop, and Rivian are
propelling a 304% increase in Class 2 EV registrations. Fleets such
as Amazon, Walmart, Penske, and FedEx are leading the charge in EV
adoption. - Upcoming EV pickup launches from Chevrolet and Ram should
continue to help this EV sales boom. - By contrast, retail EV purchases have increased “only” 60%
during the same period – showing how much faster electrification is
being adopted by the commercial industry. Some <span/>context, however: While
new commercial EV registration increases show lofty percentages,
those registrations are still only 1% of total commercial fleet
registrations.
LEARN MORE ABOUT COMMERCIAL VEHICLE INSIGHTS AND
INTELLIGENCE
THE COMMERCIAL VEHICLE FLEET ACCELERATES TOWARD ZEV
ADOPTION
COMMERCIAL VEHICLE FORECAST: MDHD TRUCK MARKET COASTS THROUGH
2024
LEARN MORE ABOUT MEDIUM & HEAVY COMMERCIAL VEHICLE INDUSTRY
FORECAST
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