Premium vehicles drive personal leasing
Affordable premium vehicles are supporting the growth of personal leasing, according to leasing.com.
It says the Range Rover Evoque has gained significant market share in the personal contract hire (PCH) market this year due to attractive deals.
Land Rover has received more personal leasing enquiries via Leasing.com than Audi so far this year, leaping into fourth place in the Leasing.com Manufacturer League Table for the year to date (January to October 2019), behind the German manufacturing trio of Mercedes-Benz, Volkswagen and BMW.
This represents a significant shift from 2018, when Land Rover finished the year as the sixth most popular manufacturer.
The updated Range Rover Evoque is currently the second most popular car to lease so far this year, just behind the Mercedes-Benz A-Class.
Paul Harrison, head of strategic partnerships at Leasing.com, said: “Aspirational consumers favour leasing because it often provides them with access to more premium vehicles than they could afford if they were funding them on PCP, HP or other alternatives.
“The Volkswagen Golf has been the most popular car to lease for several years, particularly among males between the ages of 25 and 44. But the demographics of the leasing market are changing and its increasingly appealing to everyone. The popularity of the Evoque and other affordable premium vehicles encapsulates this changing market.”
Top 10 personal lease enquiries for October:
Top 10 personal lease enquiries for year-to-date 2019:
Top 10 manufacturer enquiries for year-to-date 2019: