LATEST figures from Leasing.com show that the Mercedes-Benz A-Class was the most inquired about vehicle last year, as personal leasing continued to broaden its appeal to mainstream motorists.
Key findings from Leasing.com showed that in 2019:
- Mercedes-Benz A-Class was the most inquired vehicle last year, knocking the Volkswagen Golf off the number one spot which it had held for the last five years.
- The average car leasing consumer was a 25-34-year-old from London, looking for an automatic Mercedes-Benz A-Class on a three-year lease deal with an annual 10,000 mileage allowance.
- More women are being drawn to leasing, attracted by affordable premium vehicles.
- Fully electric vehicles accounted for 4.6% of leasing inquiries, outperforming hybrid vehicles and the overall EV market share reported by the SMMT.
Analysing its inquiry data from 2019, Leasing.com found that the typical profile of a car leasing customer is aged 25-34 from London who searches for their new car online via an Apple iPhone and prefers a lease deal with a three-month initial payment over a three-year term with an annual 10,000 mileage allowance – known as a 3+35+10k.
More women are also choosing to lease. A quarter of Leasing.com users were women in 2019, up from 20% in 2018 and the same increase was seen through Leasing.com’s social media channels.
This shifting demographic is reflected in the top ten most inquired about vehicles, with the stylish, premium and affordable A-Class and Range Rover Evoque leapfrogging the Volkswagen Golf to knock the Golf off a top spot which it had held for the previous five years (2014-2018).
Paul Harrison, Head of Strategic Partnerships, said: “The Volkswagen Golf has been the number one lease car for a long time, but the new car finance market is changing.
“More people across all demographics are saying goodbye to car buying and opting to lease online. Our rebrand, new partnerships and ongoing marketing activities are helping our advertising partners to tap into this growing and diverse consumer demand.
“At a manufacturer level, Mercedes-Benz continues to dominate but Land Rover has also had a great year with the new Range Rover Evoque.”
Alternatively-fuelled vehicles continued to grow market share via the leasing sector, at 8.3%, outstripping growth in the overall new car market. Perhaps the biggest surprise is that fully electric vehicles outperformed hybrid models in 2019, accounting for 5.6% of all inquiries, helped in part by the success of the Tesla Model 3.
“More consumers opting for fully electric vehicles over hybrids shows that leasing is allowing people to transition into zero emission vehicles more quickly and to trial new technology and brands, without the long-term commitment of buying.
“With a whole host of new electric models due to launch in 2020, including the all-new, Golf-sized Volkswagen ID.3, this transition is set to continue.”
Leasing market leaders in 2019:
- Land Rover
Top 10 personal lease enquiries for 2019:
- Mercedes-Benz A-Class
- Range Rover Evoque
- Volkswagen Golf
- Mercedes-Benz E-Class
- Nissan Qashqai
- Mercedes-Benz C-Class
- Volkswagen Tiguan
- Mercedes-Benz GLA
- Seat Leon
- Mercedes-Benz CLA
Top 10 leasing cities: