Search
Close this search box.
Sign up for our weekly Newsletter

Koreans kick Tesla off number one leasing spot

New data for March 2021 released by Leasing.com shows Hyundai is now the top EV manufacturer when it comes to leasing enquiries in the UK. The uplift is mainly being driven by Hyundai’s two entry-level EVs, the Ioniq five-door hatchback and the Kona SUV.
unnamed 3

Share

April 29, 2021

AFTER more than a year as the most popular electric vehicle to lease, Tesla has lost its crown to a smaller, more affordable model.

New data for March 2021 released by Leasing.com shows Hyundai is now the top EV manufacturer when it comes to leasing enquiries in the UK. The uplift is mainly being driven by Hyundai’s two entry-level EVs, the Ioniq five-door hatchback and the Kona SUV.

DSC02186
Hyundai Kona, helping to knock Tesla off top spot

Tesla has topped the Leasing.com league table every month since January 2020 bar two, March and April 2020. Often seen as the industry trailblazer, Tesla has enjoyed a relative monopoly in recent years as traditional combustion manufacturers have raced to catch up. Now, thanks to significant investments and mainstream consumer demand, it appears the top automakers are beginning to make their mark.

Major brands such as Audi, Ford and Mercedes are launching major new models in 2021. The Mercedes EQS, the Audi E-Tron Quattro and the Ford MachE are just some of the latest vehicles to launch with further brands following suit later in the year such as Lotus with the Evija and BMW with the i4.

However, as Hyundai has proven, lower priced vehicles are already shifting at considerable volumes and new models like the Volkswagen ID.3 are joining that trend.

Volkswagen has been particularly focussed on developing its ID EV portfolio, so much so it injected $50 billion dollars into the programme as it stakes its claim to ‘beat’ Tesla at its own game. This investment seems to have been worthwhile, with the ID 3 claiming 3rd on the list, up three places since January, and the SUV sibling, the ID.4, climbing to 14th from 19thin February. This all bodes well for the recent launch of the Volkswagen ID.6.

Paul Harrison, Head of Strategic Partnerships at Leasing.com, said: “Major manufacturers have been investing in EV technology for years and now we’re seeing that investment materialise in countless new models or, in the case of Volkswagen’s ID, entirely new brands and vehicle ranges.

“The choice of vehicles now available to consumers, at different price points, means EVs are now accessible, practical and financially viable for UK motorists. Leasing is the ideal method to help consumers take their first steps into electric motoring and test new technology without having to worry about depreciation or long-term ownership.”

Alongside Tesla, other luxury EV makers are also losing market share to cheaper alternatives. Both Jaguar and Polestar have lost several places from February to March, with the I-Pace seeing the biggest drop from 3rd to 10th and the Volvo-owned Polestar 2 falling to 13th from 10th.

Top 10 EV manufacturers in March 2021:

  1. Hyundai
  2. Tesla
  3. Volkswagen
  4. Audi
  5. Nissan
  6. Kia
  7. Peugeot
  8. Renault
  9. Vauxhall
  10. MG Motors

Top 10 models by EV enquiries in March 2021:

  1. Hyundai Ioniq
  2. Tesla Model 3
  3. Volkswagen ID.3
  4. Hyundai Kona
  5. Audi E-Tron
  6. Nissan Leaf
  7. KIA E-Niro
  8. Vauxhall Corse E
  9. MG Motor ZS
  10. Jaguar I-Pace

Got a spare 30 seconds?

 Help us to provide you with better market insight by completing a very short survey. It is anonymous and only takes 30 seconds. You will get free access to the quarterly results.

Share this article

Facebook
Twitter
LinkedIn
WhatsApp
Reddit
Email

Want more motoring news?

Sign up here for our free weekly serving of motoring.

Sign up here for our free weekly serving of motoring.

Chris Wright

Chris Wright

Chris Wright has been covering the automotive industry nationally and internationally for 30 years. Following spells with consumer titles he became News Editor of Automotive Management (AM), Editor of Automotive International, International Editor for Detroit-based Automotive News, and Editor of Dealer Update. He has also co-authored several FT Management Reports and contributes regularly to Justauto.com

Latest news

Scroll to Top