The 111th State of the Fleet Industry video produced by Automotive Fleet offers insights into the state of the fleet market as presented by AF Editor Mike Antich.

🎙Today's topics include:
- Multi-prong forces exerting upward pressure on fleet acquisition costs.
- Concern that future resale prices will be insufficient to offset today’s higher depreciation rates.
- The overwhelming majority of commercial fleet vehicles are sold to independent dealers who primarily sell these vehicles to customers who typically have subprime credit.
- Higher interest rates are creating an affordability issue for subprime buyers of fleet vehicles.

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⏱ Timestamps ⏱
0:00 Intro
1:28 Gap Between New and Used Prices Decreased in 2021
2:08 Multi-Pronged Pressures Increase Acquisition Costs
3:42 Fear that Future Resale Insufficient to Offset Higher Depreciation Costs
4:40 KMPG Forecast of 20-30% Decline in Resale Values
4:56 Overvalued Assets will Create Negative Equity
6:00 Top 3 Buyers of Used Fleet Vehicles
6:36 Fleet Vehicles Primarily Purchased by Subprime Buyers
7:13 Interest Rates for Subprime Buyers are 17-21%
7:22 Affordability Issue for Subprime Buyers
8:22 Three Scenarios for Next 12 Months
8:26 Scenario 1: Used Prices Decline at Manageable Rate
8:43 Scenario 2: Inflationary Price Pressures Persist
8:58 Scenario 3: Strong Fed Rate Hikes Induce a Recession

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