J.D. Power says competitive leasing programs offered by some manufacturers is one of the reasons leasing has accounted for only 12.3 per cent of non-luxury new-vehicle transactions in Canada this year.
Toyota’s year-to-date lease penetration—36.3 per cent— is the highest among the non-luxury nameplates and is slightly higher than that of Subaru. In June, Subaru’s leasing business peaked at 38.2 per cent. In comparison, the second-highest lease penetration in June was Volkswagen at 30.7 per cent.
This data, courtesy of J.D. Power’s latest Power Information Network (PIN) Powerplay release, also shows that Volkswagen’s monthly lease penetration, slightly less than one-third of all transactions, remained fairly consistent during the four-month period.
In contrast, Volkswagen’s finance penetration decreased from 55.9 per cent in June to 42.1 per cent in September.
Honda’s leasing activity decreased by nearly 13 percentage points from June to September. However, Honda’s year-to-date lease penetration of 26 per cent is on par with that of Nissan.
Nissan’s year-to-date lease penetration of 26.1 per cent reflects a more balanced approach as they strive to bring equality to their sales portfolio.
Additionally, Buick and Cadillac now offer competitive lease options to customers, effective October 4, 2010. GM believes this will significantly increase their reach to an important subset of customers.