The huge overall growth in demand for new electric vehicles between July-September 2021 was the result of growth in the individual BEV, plugin and hybrid segments. Those three electric vehicle segments recorded a combined sales enquiry market share on Leasing.com of nearly a third (32.1%) in Q3, up from under a quarter (22.9%) in Q2.
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.
Leasing rather than buying, is seen by many as a viable option for those looking to move away from ICE (internal combustion engine) vehicles because it enables motorists to test out EV technology without long-term ownership commitments.
Research conducted by Leasing.com in August 2021 comparing the eight lowest total cost leasing deals on economy vehicles with equivalent manufacturer PCP offers found that, on average, leasing was £1,269.48 cheaper over the course of the contract and £23.08 cheaper per month.
While ‘affordable’ leased vehicles (priced between £100-£300 per month) saw a 38% increase in enquiries compared to August last year, this figure is 59% for high-end vehicles (priced between £400-£800 per month). The trend suggests ‘return to normal’ spending habits amongst a growing number of consumers and a good sign that the UK continues to emerge out of the pandemic.
Sales enquiry figures show that demand for EVs has been steadily rising over the first half of the year and has outperformed demand for diesel models. So far, BEVs have risen 27% and hybrids by 57% but it was plugin electric hybrids that saw the biggest increase, up 78% compared to the first half of 2020. In contrast, petrol vehicles have only seen a 3% growth, while diesel enquiries plummeted by 13%.
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 13th to 5th in Leasing.com’s June league table of most popular car manufacturers.
CONSUMER demand for electric vehicles has overtaken diesel engines for the first time in the new car market. Sales enquiry data from Leasing.com shows consumer demand for EVs – battery electric vehicles (BEVs), plugin hybrid [...]
The deal between Leasing.com and Bauer Media will see the businesses collaborate across technology, editorial content and marketing. CAR has also launched a dedicated EV leasing hub to provide readers with a more comprehensive selection of EV leasing offers as consumers shift towards electric vehicles.
The potential rise of subscription models, with Care by Volvo and Porsche Passport just some of the examples from major manufacturers. Like with Netflix and Spotify, a single monthly payment covers everything involved in running a car, aside from fuel, and motorists are able to hand their vehicle back at short notice.
Deals will be available on a BuyaCar’s channel, powered by Leasing.com, providing visitors with live offers and linking them directly to Leasing.com’s hundreds of advertising partners. In parallel, Auto Express will run Leasing.com digital ads and an exclusive leasing deals widget on the leasing pages of autoexpress.co.uk.
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.
Whilst VW has taken the manufacturers’ crown, there’s a new leader in the models list. And it’s a Brit. Vauxhall has been a British brand since 1903 and its new Corsa has overtaken the Audi A3 as the most enquired about vehicle on Leasing.com in March of this year.
With millions furloughed and many more forced to work from home during the pandemic, the demand for cars plummeted. But as most of us look to return to work, the need for a car is on the rise. Demand is expected to be felt the most in Wales and Yorkshire and the Humber, the two regions with the highest number of Brits expected to change their vehicle in the next 12 months (23% vs 22%).
The Audi A3 topped the list of leasing enquires on Leasing.com, followed by the Volkswagen Golf and affordable Vauxhall Corsa. Perhaps the biggest surprise at the start of 2021 has been the downturn in enquiries on the Mercedes-Benz A-Class, and Mercedes-Benz in general.