LEASING.COM recorded its biggest-ever month of sales enquiries for its advertising partners in September with motor manufacturers, leasing companies and brokers benefitting from the record month.
The leasing comparison website saw a 60% increase in vehicle enquiries compared to September 2020 and continues to report increased demand for electric vehicles from consumers and businesses.
Leasing.com’s data coincides with a strong year for the personal leasing market more broadly. The latest statistics from the Finance and Leasing Association (FLA) showed that the value of personal contract hire (PCH) contracts provided by funders grew faster than any other form of motor finance in the 12 months to August 2021.
The growth for Leasing.com, and the PCH market, is being partially driven by the rise of EVs with enquiries overtaking diesel engines. This trend was accelerated further by the UK fuel shortage. In the final week of September, Leasing.com’s most popular vehicle was the Volkswagen iD.3, suggesting that shortages may see the popularity of EVs spike in the coming months as motorists look for energy security.
The strong results also stem from the availability of smaller, low-cost models. Several compact hatchbacks or compact crossovers appeared in Leasing.com’s Top 10 list for September – the Vauxhall Corsa, Volkswagen Golf, Volkswagen T-Cross and the Nissan Qashqai. The Corsa is available from £150 per month and demonstrates a broader shift in consumer behaviour, with sales enquiries for vehicles costing less than £200 growing by almost 60% year-on- year to July.
