this post was submitted on 17 Oct 2024
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[Dormant] Electric Vehicles

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Nearly 80% Of New EVs Are Leased: Dealer Data (insideevs.com)
submitted 1 month ago by MyOpinion@lemm.ee to c/evs@lemmy.world
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Leasing has swiftly taken over the electric-vehicle market. Nearly 80% of new EVs bought at dealerships are now leased, according to Edmunds data cited by The Wall Street Journal.

That’s up from 16% at the beginning of last year, per Edmunds. And it’s at least triple the industry average, which sits around 20%. One caveat: since we’re talking about EVs bought at dealerships, these figures exclude direct-to-consumer EV makers like Rivian, Lucid and (most importantly) Tesla. Tesla tends to push leases less than many conventional brands, too. Since it makes the three best-selling EVs on sale, the full-market figure is likely considerably less than 80%.

Still, the rise of leasing is among the strangest dynamics in today’s EV market, and the long-term impacts could be immense.

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[–] Dark_Arc@social.packetloss.gg 7 points 1 month ago (1 children)

I was thinking the same thing... new technology that people don't trust, so they lease it rather than own it and potential get stuck with a massive repair bill.

[–] spankmonkey@lemmy.world 5 points 1 month ago

Also, the majority of non-Tesla EVa that I have noticed in the midwest are company cars which are generally leased through dealerships.