The general consensus at the time was a) panic because the depreciation alone is very high on brand new cars and b) that the manufacturers would be able to fulfill the existing orders for new cars on time when the rebound happened. Had anyone felt the rebound would come on this strong this fast, I doubt the fleet would have been reduced by such a great margin. Hindsight it 20/20 (no pun intended). Now, the demand is there, it came on very very fast and the manufacturers can’t keep up.With all the dealers screaming for used it didn't make much impact from what I saw, still have to pay a premium for a used car. As you posted the manufacturer's are struggling to get inventory out, so all the consumers are primed to buy. The rental companies maybe should have looked to their core business before selling their stock.