HYUNDAI saw its popularity grow in the leasing market in June thanks to the affordability and availability of its hybrid EV model, according to data from Leasing.com.

Driven by the Hyundai Ioniq hybrid model range, which had the most enquiries of all vehicle derivatives, the Korean manufacturer saw its position jump from 13^th to 5^th in Leasing.com’s June league table of most popular car manufacturers.

A closer look at the reasons behind the model’s success reveals some key patterns of consumer behaviour, the first being a continually growing demand for EVs. Q2 of 2021 saw requests for electric vehicles overtake diesel engines for the first time in the leasing market, compared with January 2020 when the combined total enquiries for electric vehicles was three times lower than that of diesel.

And with almost half of Ioniq enquiries on deals under £200 a month, the affordability offered to consumers has also been the key to its success. The cost of an EV, historically, has excluded many potential converts from going electric. Leasing.com data, however, shows consumers increasingly moving away from the luxury brands and towards high volume makes and models. This is helping to drive motorists to more affordable options including Hyundai.

The in-stock availability of the model also appears to be crucial. The global semiconductor shortage continues to plague the automotive industry, which is seeing consumers favour pre-built vehicles that have already been delivered, and this is clearly reflected in the data, with more than 90% of enquiries made for in-stock versions of the vehicle.

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Paul Harrison, Head of Strategic Partnerships at Leasing.com, sayid that the Ioniq’s popularity provides a snapshot into the industry as a whole: “Three of the most important trends that we’ve seen so far in 2021 have been the acceleration of EV adoption, the cost-consciousness of consumers, and the preference for in-stock vehicles driven by the global chip shortage. The popularity of the hybrid Ioniq is a reflection of all three of these.”

Elsewhere in the league tables, the Cupra Formentor remains the most popular model, though there are signs that the this may be slowing down, with a 53% drop in enquiries this month. This has seen Cupra’s position in the league tables drop from 4^th to 7^th, with Mercedes-Benz going the other way. Aside from this, the manufacturer league tables remain largely unchanged, although Seat and Peugeot both entered the top 10 in June at 9^th and 10^th place, respectively.

Top 10 car manufacturers:

1. Volkswagen
2. Audi
3.   BMW
4. Mercedes-Benz
5. Hyundai
6. Land Rover
7. Cupra
8. Skoda
9. Seat
10. Peugeot

Top 10 personal enquiries:

1. Cupra Formentor
2. Volkswagen Golf
3. Audi A3
4. Vauxhall Corsa
5. BMW 2 Series
6. Volkswagen T-Roc
7. Volkswagen Tiguan
8. Volvo XC40
9. Peugeot 3008
10. Hyundai Ioniq