Car leasing comparison site Leasing.com has posted a record month for sales enquires in September, registering a 60% increase on the previous year.
Leasing.com’s data coincides with a strong year for the personal leasing market more broadly. The latest statistics from the Finance & Leasing Association (FLA) showed that the value of personal contract hire (PCH) contracts provided by funders grew faster than any other form of motor finance in the 12 months to August 2021.
The growth for Leasing.com, and the PCH market, is being partially driven by the rise of EVs. Leasing.com’s recent report showed that EV sales enquiries had now overtaken diesel engines.
This trend is being accelerated further by the ongoing UK fuel crisis. In the final week of September, Leasing.com’s most popular vehicle was the Volkswagen iD.3, suggesting that fuel shortages may see the popularity of EVs spike in the coming months as motorists look for energy security.
These record sales also stem from the availability of smaller, low-cost models. Several compact hatchbacks or compact crossovers appeared in Leasing.com’s Top 10 list for September – the Vauxhall Corsa, Volkswagen Golf, Volkswagen T-Cross and the Nissan Qashqai. The Corsa is available from £150 per month and demonstrates a broader shift in consumer behaviour, with sales enquiries for vehicles costing less than £200 growing by almost 60% year-on- year to July.
Paul Harrison, head of strategic partnerships at Leasing.com, said: “We’re delighted with the record September that we delivered for our valued advertising partners. It underlines our position in the market as the car leasing comparison website.
“The increasing popularity of EVs is going hand in hand with rising demand for leasing and our business and partners will play a key role in helping the UK to fully transition to net zero motoring. We have big plans for the next 12 months and beyond and look forward to breaking more records.”