The Chevy Equinox is one of the Bow Tie brand’s best-selling models, coming in second place behind the Chevy Silverado. Now, according to a new report, the Equinox was the most leased vehicle in the United States in Q3 2022.
In a report by Experian, 3.08 percent of all new vehicles leased were Chevy Equinox units, ranking first in the third quarter of the 2022. This places the Equinox ahead of compact crossover rivals Honda CR-V and Toyota RAV4, also among the top 10 most leased new vehicles in the U.S.
As far as payments go, the average Equinox monthly lease payment was established at $375, while the average loan payment was $510, placing the Equinox below all top 10 most leased models. For context, the average lease payments on the CR-V and RAV4 were $431 and $432, respectively.
This first-place ranking comes as sales of the Chevy Equinox rose once again in Q3 2022. Equinox deliveries totaled 46,646 units in Q3 2022, reflecting an increase of about 44 percent compared to 32,444 units sold in Q3 2021.
From a segment perspective, the Equinox ranked third in sales. Ahead of the Bow Tie brand crossover was the Toyota RAV4 in first with an 11 percent increase in sales to 102,456 units, and the Honda CR-V in second with 19 percent decline to 62,085 units. Behind the Equinox was the Nissan Rogue in fourth with a 19 percent drop to 42,460 units, and the Hyundai Tucson in fifth with a 28 percent increase to 41,554 units.
Sales Numbers - Mainstream Compact Crossovers - Q3 2022 - USA
| MODEL | Q3 22 / Q3 21 | Q3 22 | Q3 21 | Q3 22 SHARE | Q3 21 SHARE | YTD 22 / YTD 21 | YTD 22 | YTD 21 |
|---|---|---|---|---|---|---|---|---|
| TOYOTA RAV4 | +11.06% | 102,456 | 92,252 | 20% | 19% | -3.22% | 303,341 | 313,447 |
| HONDA CR-V | -19.31% | 62,085 | 76,941 | 12% | 16% | -38.41% | 178,687 | 290,140 |
| CHEVROLET EQUINOX | +43.77% | 46,646 | 32,444 | 9% | 7% | +8.08% | 163,324 | 151,110 |
| NISSAN ROGUE | -18.90% | 42,460 | 52,358 | 8% | 11% | -44.54% | 130,135 | 234,647 |
| HYUNDAI TUCSON | +27.74% | 41,554 | 32,530 | 8% | 7% | +8.25% | 125,625 | 116,047 |
| KIA SPORTAGE | +47.15% | 37,383 | 25,404 | 7% | 5% | +13.91% | 89,739 | 78,778 |
| FORD ESCAPE | +34.57% | 35,391 | 26,299 | 7% | 5% | -2.22% | 109,311 | 111,791 |
| MAZDA CX-5 | -23.65% | 34,145 | 44,722 | 7% | 9% | -15.58% | 115,949 | 137,343 |
| SUBARU FORESTER | -21.55% | 28,468 | 36,289 | 6% | 7% | -39.96% | 79,405 | 132,254 |
| VOLKSWAGEN TIGUAN | +29.03% | 25,608 | 19,847 | 5% | 4% | -24.31% | 64,336 | 85,000 |
| FORD BRONCO SPORT | +3.56% | 21,427 | 20,690 | 4% | 4% | -1.51% | 79,976 | 81,204 |
| GMC TERRAIN | +80.96% | 17,917 | 9,901 | 3% | 2% | +51.08% | 65,619 | 43,434 |
| JEEP CHEROKEE | -0.84% | 11,495 | 11,592 | 2% | 2% | -60.82% | 30,852 | 78,750 |
| MITSUBISHI OUTLANDER | -32.30% | 7,178 | 10,602 | 1% | 2% | +43.26% | 30,481 | 21,277 |
| MITSUBISHI ECLIPSE CROSS | +2.56% | 2,649 | 2,583 | 1% | 1% | +20.46% | 8,361 | 6,941 |
| DODGE JOURNEY | -97.08% | 31 | 1,062 | 0% | 0% | -98.65% | 187 | 13,827 |
| TOTAL | +4.31% | 516,893 | 495,516 | -16.91% | 1,575,328 | 1,895,990 |
As far as segment share of sales, the Equinox claimed a nine percent share.
As a reminder, the 2023 Chevy Equinox introduces a revised engine, namely the turbocharged 1.5L I4 LSD, which replaces last year’s turbocharged 1.5L I4 LYX, and is rated at 175 horsepower and 203 pound-feet of torque. The reworked powerplant is mated to the GM six-speed automatic transmission.
As for structure, the compact crossover rides on the GM D2 platform, while production kicked-off at the GM San Luis Potosí plant and the GM Ramos Arizpe plant, both of which are in Mexico, on August 22nd, 2022.
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Comments
” Most The Leased Model..”
😖
Y’all might wanna try that title again
Chevrolet holds third place because it’s cheapest lease in class. This goes back to Chevy being synonymous with bad credit.
When is Barra going to build the right product and introduce better marketing so that Chevrolet can be truly a top choice for consumers in the US?
I grew up on GM but even feel myself swayed by Honda sedans, Mazda, and FCA (until Stellantis screws it up). I honestly can’t think of any GM vehicle being my first choice except for Envision that’s uh fortunately a Chinese import.
Please Mr. Finance Manager tell me more.
Benefits of Buying w/GMAC.
When you buy, you enjoy the freedom to…
*Apply your personal touch with cosmetic alterations
*Drive without mileage limits
*Worry less about wear and use with many repairs being optional
*Build equity by owning your vehicle upon completion of your contract
Top Reasons to Lease w/GMAC
Benefits of Leasing
When you lease, you enjoy the freedom to:
*Experience “new” more often with typically shorter contract lengths
*Pay for the best miles of a vehicle’s life — when it’s still new and under warranty
*Potentially save money with a lower monthly payment
*Worry less about depreciation and enjoy driving without worrying about the decrease in value
GMAC became Ally in 2014. The new business is GM Financial.
Bought a Equinox RS, nice looking but that’s where it stops. Bad turbo lag, engine labors between 35 to 40 miles an hour and the quality overall sucks.