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Auto Sales - USA - Fleet sales lift automakers amid slow retail results
Detroit,Mich,USA -Detroit Free Press/AP, by DEE-ANN DURBIN -Nov 5, 2005: -- The October auto sales rate was at its lowest level in seven years, but the results could have been worse if automakers hadn't gotten a significant boost from sales to corporate and rental-car fleets... Industry analysts say that's a disappointment for U.S. automakers, who have been trying to reduce their fleet business because fleet cars sell at a lower price, which hurts resale values... George Magliano, director of auto research for the consulting firm Global Insight, said: "Putting cars and trucks into the fleet in a big way is a stopgap measure. They don't make a lot of money on those cars"... But some automakers said the trend isn't all bad. DaimlerChrysler AG's Chrysler Group said retail sales to individual consumers fell by double digits but were propped up by a 119% surge in fleet sales to corporations, who lease vehicles for their executives and sales staff. Fleet sales made up nearly 40% of Chrysler's October sales...
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