Leasing Variety Expand Ev Popularity According To Q2 Credit Data

How leasing options and vehicle variety help expand EV Popularity

Leasing options

According to the Experian report, leasing accounted for 32% of all new EV transactions in Q2 2022, up from 26% in Q1 2022. This growth indicates that consumers are increasingly open to leasing as a way to get into an EV.

There are several reasons why leasing is becoming more popular for EVs. First, leasing can be a more affordable way to get into an EV than buying one outright. Second, leasing allows consumers to get into a new EV every few years, which can be appealing to those who want to stay up-to-date on the latest technology.

Variety of EVs

The variety of EVs available to consumers is also helping to drive their popularity. In Q2 2022, there were over 50 different EV models available for purchase in the United States. This is up from just 20 models in 2016.

The increased variety of EVs means that consumers can find an EV that meets their specific needs and budget. For example, there are now EVs available in a variety of body styles, from sedans to SUVs to pickup trucks. There are also EVs available with a variety of different range and performance capabilities.

Combining leasing and variety

The combination of leasing options and the variety of EVs available to consumers is helping to drive the popularity of EVs. By offering consumers a more affordable and convenient way to get into an EV, leasing is making EVs more accessible to a wider range of consumers.

At the same time, the variety of EVs available means that consumers can find an EV that meets their specific needs and budget. This is making EVs more appealing to a wider range of consumers, which is helping to drive their popularity.