NEW analysis by Hippo Leasing provides a snapshot of the UK industry last year, including the most popular manufacturers and models, and the shifting demographics of customers.

The data shows vehicle manufacturers appear to be in a constant state of flux: Mercedes-Benz knocked Vauxhall off the top spot in 2018, gaining the largest of total enquiries (14.5%), up 5.1% from 2016.

Interestingly, Volkswagen lost the largest market share over the same period, down from an impressive 11.1% in 2016 to just 4.6% in 2018.

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With Brexit looming and the UK market already seeing the cost of leasing EU-manufactured cars increase significantly, (up 31% for a Mini Cooper D and 23% for the Audi A3 in the year leading up to April 2018 alone), Hippo forsees British brands making a comeback in 2019.

Breaking the data down by model shows the Mercedes-Benz A Class has been the most popular leased model for two years running, with the Mercedes-Benz B Class coming in close second place.

Last year also witnessed consumers favouring the luxury end of the leasing market, with more higher value vehicles making up the top five than previous years.

When analysing customer demographics, the 25-34 age group is the most interested in vehicle leasing contracts, representing 27.6% of all visitors to the Hippo Leasing website in 2018. However, this is down from 31.1% two years ago.

Older drivers, aged 65+, are the fastest growing customer segment, with their share of total enquiries more than doubling in three years (up from 3.6% in 2016 to 7.3% in 2018).

By 2066, the ONS predicts the over 65s will make up over a quarter of the UK’s total population (20.4 million people). Hippo said this represents a huge commercial opportunity for the industry.

Mobile searches continues to dominate as customers search for leasing deals, making up 67.3% of all sessions in 2018 (up from 60% in 2017 and 51% in 2016).

In comparison, searches on desktop have fallen YoY, from 32.3% in 2016 to 22.6% in 2018, as well as on tablet which are down from 16.7% in 2016 to just over 10% last year.

Tom Preston, Managing Director of  Hippo Leasing  said: “It’s interesting to visualise how wider trends – such as an ageing population, technology use and consumer spending – are impacting the UK car leasing industry.

“The age of online retail and next day delivery is also changing customers’ expectations, meaning leasing companies must aim to deliver new vehicles quickly and efficiently. To keep up, Hippo Motor Group recently invested in its first car transporter truck, giving us the ability to deliver vehicles in as little as 48 hours.”