Leasing firm reports 700% growth for plug-ins

Demand for plug-in vehicles soared by more than 700% during 2019.

This is according to new data from Vantage Leasing. It revealed it leased more than seven times as many pure electric (EV) and plug-in hybrids (PHEVs) last year as it did in 2018, indicating that the shift towards electrification is gathering real pace.

Premium brand models made up the majority of the new plug-in vehicle contracts. The Range Rover Sport PHEV was the most popular option, accounting for 60% of all plug-in hybrid models. Even more surprisingly, it was also the most popular version of the car, making up 59% of all Range Rover Sport lease contracts in 2019.

The data pointing to a huge surge in plug-in vehicle interest arrives as the leasing specialist launches its interactive EV Chooser tool to help drivers choose the right option for them. The EV Chooser enables motorists to compare key metrics – including range, price and efficiency – and has created its own ranking based on how vehicles fair.

Managing Ddirector, Rob Walker, said: “Our new data proves the electric revolution has started. The huge increase in demand for EV and PHEV models that we’ve seen over the past 12 months highlights the way that the leasing market is changing rapidly.

“We’re excited to be a part of that, and we want to help our customers make the transition as smoothly as possible. That’s why we offer a wide range of EV and PHEV models, and why we created a unique EV chooser tool that helps our customers choose the plug-in model that’s right for them.”