In 2019, fleet sales accounted for nearly 22% of GM’s sales, with about half going to rental fleets and the other half to corporations and government agencies. Fleet sales accounted for nearly 28% of Nissan’s 2019 sales, with almost 93% of those sales going to rental car companies.
However, after a historic decline in oil prices, Ruppert said it “could be some time in 2021” before industry-wide vehicle orders from oil and gas producers recover. Ruppert said government orders are based on the previous year’s tax base, so 2021 orders will reflect this year’s pandemic.
Wall Street will respond with higher stock prices.
Here we go...
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