The demand for electric vehicles has now surpassed that of diesels in the leasing sector, according to new industry figures…
Rising EV Demand in the Leasing Sector
Demand for electric vehicles has now officially overtaken that of diesel model in leasing sector for the first time. Data compiled by Leasing.com has revealed that sales enquires for battery electric vehicles (BEVs), plug-in hybrid and hybrid models outperformed diesels in the second quarter of 2021; having risen steadily since the start of the year. Since the end of January, enquiries for BEVs have risen by 27%, hybrids by 57% and plug-in hybrids by 78%.
For perspective, petrol experienced 3% growth. Demand for diesels, however, actually declined by 13%. According to Leasing.com, BEV sales are expected to reach 20% of all enquiries by the end of the year.
A ‘Surprising’ Development
Dave Timmis, managing director of Leasing.com, commented on the rising interest in EVs. He said, “we’ve been planning for the UK market to shift towards electric drivetrains, but the rate at which they’ve overtaken diesel has been surprising”. He added, “the rise of electric vehicles is being driven by increased accessibility. The market was previously dominated by relatively expensive models such as the Tesla Model S; while newer cost-effective models like the Hyundai Ioniq and the Vauxhall Corsa-e are now opening up EVs to all motorists in the UK. And leasing is helping to make them affordable”.
In many respects, then, leasing is playing a crucial role in popularising electric vehicles – having rendered otherwise inaccessible vehicles readily available to every day motorists. It’s also clear, after many years of decline, that diesels are seemingly in an irreversible state of decline.
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