Leasing boosts the automotive sector

Leasing boosts the automotive sector

Renting has closed the third quarter with a weight of more than 26% in registrations and investments in vehicle purchases above 4,024 million euros, with a weight in the market that stands at 26.08%. They are figures that encourage optimism in an automotive market that is being seriously affected by the crisis resulting from the consequences of Covid-19, the lack of components and the war in Ukraine.

Economic uncertainty and the electrification process undertaken in Europe, with more and more restrictions on less efficient vehicles, are also responsible for the fact that more and more people and companies delay your purchase decision and opt for flexible alternatives to access a vehicle, such as renting and payment for use.

Thus, according to the figures published by the Spanish Renting Association AER in September, they have registered a total of 20,691 cars in renting, 17.87% more than in 2021. There are a total of 183,476 units, 5.54% less than in the same period of 2021, when 194,235 vehicles were counted.

In September, 20,691 cars were registered in the leasing sector, 17.87% more than in September 2021, when 17,554 units were registered. On its side, the total market has increased by 10.68%, with 78,753 registrations in the month.

In the aforementioned month, renting accounted for 45.61% of the company channel as a whole; in September 2021 it covered 44.75%.

In the accumulated, renting has a weight in this company channel of 45.87%, compared to 40.80%, which was registered as of September 2021. The total investment, made in the acquisition of new vehicles by leasing companies, accumulated to September 2022, has reached 4,024.25 million euros, 2.75% less than in September 2021, when an investment of 4,138 million euros was recorded.

According to José Martín Castro Acebes, president of the Spanish Association of Vehicle Renting, September, once again, has been a good month for registrations in the renting sector, which have registered an increase of almost 18%. “This is allowing shorten enrollment decline accumulated, which stands at 5.54%, in relation to the same period in 2021, a difference that is even smaller when talking about investments in the purchase of vehicles, which are only 2.75% below those registered at the end of the third quarter of 2021, mainly due to the commitment of leasing and its customers to alternative energy vehicles, which already account for 31.95% of leasing registrations”, explains Castro Acebes.

increasingly electrified

As of September 2022, 16,323 units of the different modalities of electrified (pure electric, extended range, gasoline plug-in hybrid and diesel plug-in hybrid), which represents 8.90% of total leasing registrations and a growth of 10.15% in relation to the data as of September 2021, when 14,819 electrified units were counted. On their side, the 58,937 registered electrified units in the total market represent 8.38% of total registrations. The weight that renting contributes to the total registrations of electrified vehicles is 27.70%.

On the other hand, vehicles powered by alternative energies (electrified, hybrid, gas and hydrogen) represent, as of September 2022, 31.95% of total leasing registrations, while, as of September 2021, their penetration was 27.39%. Renting has a weight in the total number of registrations of alternative energy vehicles of 23.88%.


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