Q3 new-vehicle leasing stays on softening pattern
New-vehicle leasing still isn’t quite at the level seen before the pandemic started, according to data provided by Experian Automotive.
During the first quarter of this year, Experian reported that 30.19% of all new-model deliveries were connected to a lease. In the second quarter with COVID-19 in play, analysts found that leasing softened to 25.81%.
The leasing industry generated a bit of a rebound during the third quarter, but Experian found that it still remained below the 30% level, coming in at 26.2% of new-vehicle financing.
For reference, new-model leasing in the first quarter of last year stood at 33.43%.
Experian drilled deeper into the Q3 data and discovered the top 20 new-vehicle lease market holders. The rundown of automakers is as follows:
1. Honda: 13.10%
2. Toyota: 9.60%
3. Chevrolet: 8.70%
4. Ford: 6.98%
5. Jeep: 5.73%
6. Nissan: 5.69%
7. BMW: 4.46%
8. Hyundai: 4.19%
9. Kia: 4.07%
10. Mercedes-Benz: 3.91%
11. Lexus: 3.73%
12. Subaru: 3.24%
13. Mazda: 3.02%
14. Volkswagen: 2.92%
15. GMC: 2.32%
16. Audi: 2.31%
17. RAM: 2.21%
18. Acura: 2.20%
19. Buick: 1.88%
20. Cadillac: 1.56%
And after compiling that list, Experian also pinpointed the top 10 new models leased during the third quarter and their share of the overall market. That grouping included:
1. Honda Civic: 3.47%
2. Honda CR-V: 3.19%
3. Toyota RAV4: 2.37%
4. Honda Accord: 2.11%
5. RAM 1500: 2.11%
6. Ford F-150: 2.09%
7. Chevrolet Equinox: 2.03%
8. Jeep Grand Cherokee: 1.95%
9. Chevrolet Silverado 1500: 1.84%
10. Nissan Rogue: 1.59%