Global Vehicle Leasing Industry: Top Growth Opportunities Revealed
The emergence of new leasing models will ease adoption of EVs into the fleet market, says research firm Frost & Sullivan.
New mobility models are set to transform the global fleet leasing market and create substantial growth. Electric vehicle (EV) leasing, private leasing and used vehicle leasing are all making inroads and OEMs are forcefully pursuing new EV leasing solutions. Leasing companies are being pushed to consider new business models that support the adoption of EVs into the fleet market.
"Operational leasing will continue to be the preferred funding solution and will drive the growth of company car fleets in 2020," noted Abishek Narayanan, program manager, Mobility, Frost & Sullivan. "Sales growth will come from Central, Eastern and Southern Europe, reinforced by stable growth in the BRICS countries and North America."
Global growth in car leasing
The global company car leasing market has seen stable growth in 2019 and is expected to conclude with a year-on-year growth rate of 2.1% and unit of sales of 7.8 million.
Full-service operational leasing continues to dominate among company car fleets, representing 59.1% of total fleet leasing contracts sold.
Due to a push from operational leasing, adding 200,000 new contracts, in 2020 the global company car leasing market is expected to grow at 3.9%, surpassing 8.1 million unit sales.
New revenue opportunities
To talk about this, Frost & Sullivan is hosting an interactive webinar on Thursday, 12 December 2019, at 15:00 GMT/10:00 EST. It will detail the emergence of alternative mobility solutions that are transforming the leasing industry, giving rise to new revenue opportunities.
Subjects covered in the webinar will include:
- Identifying growth opportunities in the leasing industry ecosystem.
- Learning best practices for targeting customer segments and differentiating product offerings.
- Finding out about other mobility solutions that are growing in demand and competing with traditional leasing.
Anyone interested in registering for the webinar is invited to do so here