Serving all commercial, government, and utility fleets operating more than 15 vehicles. Since 1961, considered the "Bible" for the medium- to large-size fleet market.
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I own a Model 3 LR. Before every drive, Settings-AutoPilot-Disable AEB, Lane Keep, Forward Collision Warning. Every single time! These cars are being sold with known dangerous issues and there is no way to save these settings into a driver profile memory.
Another excellent episode, thank you. In defense of the OEMs, at least their Fleet arms, there is a market hierarchy with Consumer on top, then Non-Fleet Commercial, then Fleet, then Rental. In a supply constrained environment (created out of thin air by useless lockdowns), OEM Fleet arms tried their best to satisfy loyal clients, but they were hamstrung from the get-go. They have too much class/sense to throw their superiors under the bus, hence the burnout. The leverage is shifting back to buyers now, and I totally agree that if they weren't brand-agnostic before, they sure are now. Now comes an inexorable migration to EVs, which is taking everyone out of their comfort zone.
You are a professional I respect , keeping personal opinions out and orating the feature facts of the specific car. This episode was brief features taste of this Legacy.
Excellent discussion of fleet used market, Mike, especially the inclusion of the likely retail market and its reliance on subprime customers. Your point about rising interest rates is true- a 20% APR on a used $30,000 vehicle equals $250 per month in interest cost alone. Now that the Fed money cannon has run out of other peoples' money expect this to dampen demand at the source as consumer repos spike. Corporate fleets have enjoyed effective depreciation rates of ~1%/month or less on ICE vehicles since about 2018. Most fleets have had no choice but to extend life cycles which means fleet demand for replacements should stay strong for a while- don't look for acquisition costs to decrease any time soon. EV depreciation curves are another matter entirely. Thanks again for a thought-provoking episode.
Hey Mike, thank you for the video. Wondering if you have a take on how the IRA will impact B2B fleet vehicle sales? If it will affect them at all. I would love to hear your opinion on this. Thanks,
Have you ever been in Mexico Estado de México?? At the north area as Cuautitlan Izcalli as invest to retired , it is so close from Mexico city and have everything to give the american retired people good quality life... I visited Mexico City and I think that this place need some invest it could be cool for retirement and heritage a land with value ... principal is in the Valle of Mexico and I can drive to many differents towns, and its not too expensive as buy in Mexico
Mr.Hightower, keep up the good work. Lots of eyes and ears anxiously awaiting the news on the joint venture to develop with MIH. Us shareholders will sing your praise even louder when the agreement is met. You’ve got this!
The host stated that there is the option to sit three in the front. I recently placed an order and dealer said that there isn't an option to sit three in the front.. 😢
Great episode, Mike. Assuming things get back to anything resembling the "old normal" in supply/demand it seems the buyers (FMCs and fleets) will need to start from scratch, since every dealer has effectively abandoned fleet as a desired channel. I don't see this getting to equilibrium any time soon, especially as the growing wave of EVs is crimping OEM investment in ICE development/production.
Love it! ❤️ ❤️ ❤️ ❤️ ❤️ ❤️ Just when you thought your cool, in this year the 100th anniversary of Chinese Communist Party #CCP, thrilled to know Jeep is now owned in part by Dongfeng of CHINA #MadeInChina2025 #BeltAndRoad #BeijingOlympics2022 #OccupyMars2024 #UyghursBuddyBuddy 🇨🇳 🇨🇳 🇨🇳 🇨🇳
Thank you Mike & Mike for this thoughtful examination of the evolution of fleet dealers. This is worth watching multiple times! To really understand today's market, and forecast where we are going, it's worth going back in time to explore our industry's origins. Mike L's metaphor of the basketball team on the "unbundling" discussion is a great one. To be in the fleet business as a dealer, you have to have steadfast commitment starting with ownership all the way through the GM and business office, down to the specialized teams where the rubber meets the road. Anything less is folly. It will be interesting to see how many dealer owners keep this commitment in a period where supply vastly exceeds demand. Thank you again.
