General Motors and Hyundai-Kia took polar-opposite strategies last
month when it came to fleet sales.
Hyundai-Kia's overall sales
in August increased 5 percent, while GM slipped 0.7 percent. But here's the
rest of the story: Hyundai-Kia
fleet volume soared 35 percent in the month while its August retail sales
inched up by less than a percent compared with the prior year.
In contrast, GM retail
climbed 5.9 percent in August, but it slashed fleet volume 24 percent in
August, the second month of a drive to curb sales to daily-rental buyers
sharply.
Through eight months, GM has
cut fleet 5 percent but increased retail sales 6 percent, the highest
percentage among the seven best-selling automakers. At Hyundai-Kia, fleet volume
has jumped 24 percent this year but retail is flat, making it the only major
automaker without retail gains this year.
Without pickups or vans in
the lineup, Hyundai-Kia's fleet volume is virtually limited to daily-rental
customers.
GM is active in two other,
generally more profitable fleet segments: commercial and government. GM said
through eight months, government-segment fleet sales rose 5 percent and
commercial 16 percent. But GM cut rental-fleet volume 14 percent in that
period, part of a broader strategy to boost sales through dealerships and brand
resale values.
Among the major automakers,
August fleet sales rose
2.4 percent and retail fell 1.6 percent. Through eight months for the group,
fleet sales gained 4.1 percent; retail, 3.1 percent.
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