Chevy Is The Third Most Leased Car Brand In The U.S.
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Multinational consumer credit reporting company Experian has identified the top 20 leased new vehicle makes in the U.S. during the fourth quarter of the 2020 calendar year. According to the latest Experian report, Chevy was the third most leased car brand in the U.S. during the time period.
According to the new Experian report, Chevy vehicles accounted for 9.21 percent of all vehicles leased in the U.S. during Q4 of 2020. At the top of the list of most leased makes was Honda with 11.6 percent, followed by Toyota with 11.16 percent. Jeep was fourth with 5.47 percent, while Ford was fifth with 5.41 percent.
Further down the list, GMC was sixteenth at 2.38 percent, while Cadillac was nineteenth at 1.76 percent.
The recent Experian findings also provide a breakdown of financing types for the top 20 most leased new makes. Financing for Chevy vehicles was skewed towards loans, with 26.82 percent leasing, and 73.18 percent loan.
Unsurprisingly, Experian identified SUVs as the primary segment in which consumers financed new vehicles during Q4 of the 2020 calendar year, with over 55 percent of new vehicles financed slotting into the SUV segment. That includes 4.66 percent full-size models, 25.72 percent mid-size models, and 25.14 percent small models. Full-size pickup truck models accounted for 13.98 percent of new vehicles financed, while mid-size pickups accounted for 3.95 percent of the mix. Mid-size sedans accounted for 9.85 percent of new vehicles financed, while small sedans accounted for 8.27 percent.
The findings also indicate a year-over-year decline with regard to the percentage of new vehicle loan and leases, with 85.19 percent for new vehicle financing in Q4 of 2019, as compared to 81.12 percent during the same time period in 2020.
Interestingly, electric and hybrid models now make up 6.7 percent of new vehicle financing, including 2.25 percent all-electric, and 4.47 percent hybrid. That’s an increase compared to 2019, which saw 1.39 percent all electric, and 2.9 percent hybrid.
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Source: Experian
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