Demand for lease deals on electric vehicles outperformed the overall new car market in 2022.
Data from car leasing comparison website Leasing.com reveals that fully electric vehicles made up 18.8 percent of sales enquiries last year.
By comparison, EVs accounted for only 16.6 percent of new car sales overall.
Leasing.com also saw considerable interest in hybrid and plug-in hybrid cars. Combined with EVs, all electrified models represented more than a third (35.3 percent) of lease deal demand.
Diesel down, mileages up
The surge in interest for electrified cars coincides with the ongoing decline in demand for diesels. Cars with diesel engines accounted for just 10.6 percent of sales enquiries last year, versus 17.2 percent in 2021.
The cost-of-living crisis has also affected the leasing market, with four-year lease agreements now the most popular option. These allow customers to spread costs over a longer period.
Annual mileages increased during 2022, however, to around 8,000 miles on average. The jump from 5,000 miles a year in 2021 is attributed to motorists returning to the office and making more social journeys.
Across all personal leasing customers, the average monthly rental cost in 2022 was £354.
Low-cost options for 2023
The continuing shortage of semiconductor chips, along with wider economic challenges, meant the cars chosen by customers were largely dictated by what was readily available.
The Nissan Qashqai emerged as the lease market favourite, followed by the Kia Sportage and Hyundai Tucson. SUVs made up seven out of the top 10 models.
Low-cost options, along with more EVs, are likely to come to the fore in 2023. Paul Harrison, chief partnerships officer at Leasing.com, commented: “While the momentum behind EVs will continue, the leasing of practical, more affordable cars will be a key trend in 2023 as cost-conscious consumers forego more expensive brands in favour of alternative manufacturers that offer similar benefits, but at a lower monthly cost.”
Most popular lease cars of 2022
- Nissan Qashqai
- Hyundai Tucson
- Kia Sportage
- Vauxhall Corsa
- Cupra Formentor
- Tesla Model Y
- Hyundai Kona
- Mercedes-Benz CLA
- Volkswagen Polo
- Volkswagen T-Roc
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