Car leasing consumers more likely to go electric as EV demand accelerates

Interest in leasing electric and alternatively fuelled vehicles (AFVs) has increased dramatically over the last 12 months and is outperforming demand seen in the overall consumer new car market, new data from Leasing.com shows.

During September 2019, there were 40,917 overall registrations of battery electric vehicles, plug-in hybrid electric vehicles, hybrids and mild hybrids, up 54.8% from September 2018, according to the latest figures from the SMMT.

However, when it comes to personal leasing, enquiries on all these vehicles were up 209% year on year in September 2019. A recent survey also found that 40% of drivers planning to lease a car in the next five years would choose an electric vehicle*.

The Tesla Model 3, Volkswagen e-Golf and Jaguar I-Pace were the most in-demand all-electric models in the crucial plate-change month of September.

Paul Harrison, Head of Strategic Partnerships at Leasing.com, said: “As more emphasis is put on moving to low-emission drivetrains, leasing offers personal customers the perfect way to transition into ever-cleaner models without the large, long-term commitment of buying.

“Interest in alternatively fuelled vehicles on Leasing.com has outstripped national levels so far in 2019 and accounted for 7% of all enquiries in the first half of the year. Average CO₂ emissions across personal lease enquiries on Leasing.com have fallen for three consecutive years, and our data shows we’re on course for a reduction in emissions this year too.”

Harrison added: “As more fully electric and hybrid models hit the market over the coming year, we expect to see an even stronger rate of adoption via leasing.”

Overall in September, the Mercedes-Benz A-Class was the most popular personal lease car, followed by the Range Rover Evoque. The electric Tesla Model 3 continues to attract leasing consumers and was the fifth most-enquired vehicle.

Top 10 personal lease enquiries for September

Mercedes-Benz A-Class

Range Rover Evoque

Volkswagen Golf

Mercedes-Benz E-Class

Tesla Model 3

BMW 2 Series

Volkswagen Tiguan

Mercedes-Benz GLA-Class

Nissan Qashqai

Seat Leon

*The survey was carried out as part of the Mobility Monitor 2019: EV and Sustainability report from leasing firm LeasePlan.

*Article Source https://www.facebook.com/Leasingdotcom