[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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[–] AA5B@lemmy.world 2 points 1 month ago (1 children)

Plus the rate of technology change. I considered leasing for the first time ever, because EVs are so new and the technology is rapidly changing. I ended up deciding Tesla is getting mature enough to buy.

If I were to buy from a legacy manufacturer, I see that most are really on their first generation, their first attempts at an EV, so likely have huge changes coming soon. For example, why would I buy with the old charging connector when they’ve announced they will start using NACS next year? I’m not buying into that, but I may choose to lease it for a few years then upgrade to something better

[–] jqubed@lemmy.world 2 points 1 month ago

Yes, that’s a valid point. Either way you’ll need a dongle to connect to the other standard (CCS1/NACS), but it would be nice for the vehicle’s native port to be the one you’ll use most often going forward, which will be NACS.