EVs overtake diesels as most popular lease cars in the UK

Demand for EVs in the UK’s leasing sector has for the first time surpassed that of diesel-powered cars, data from Leasing.com reveals.

The site’s data shows that the demand for electrified vehicles – consisting of battery electric vehicles (BEVs), plug-in hybrids (PHEVs), and hybrid cars – has been gradually growing since the beginning of the year, rendering EVs the winners during the second quarter of 2021.

BEVs have risen by 27% and hybrids by 57%, with the PHEVs seeing the biggest increase at 78%. On the contrary, petrol vehicles only witnessed a 3% growth and diesel vehicles dropped by 13%.

Managing director of Leasing.com Dave Timmis noted: “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.”

Timmis attributes this to the EVs’ improved accessibility and cost-efficiency. There are now more affordable models in the market, like the Hyundai Ioniq and the Vauxhall Corsa E, compared to previous years when relatively expensive models, such as the Tesla Model S, dominated, he explained. 

This reflects a very optimistic trend of the UK’s auto market, which shows that drivers are more open to shifting away from diesel vehicles and switching to electrically powered cars.

According to the latest registration figures from the Society of Motor Manufacturers and Traders (SMMT), diesel car registrations dropped by 18,6% year to date. Diesel vehicles have achieved an 18% market share, while the electrified vehicles combined have reached 21.7%. 

Overall, it’s impressive that diesel cars, that are usually the preferred leasing option due to their better fuel economy, no longer hold the first place. EVs seem like the next big player, which might indicate that drivers are open to the new tech, especially when it comes without any commitments.

HT – AM Online

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