Auto lease penetration steady in first half

CARY, N.C.  - 

Lease penetration in the first half of 2018 was relatively steady with year-ago figures, according to data released Monday by Edmunds.

Through six months, average lease penetration was at 31.3 percent, compared to 31.2 percent in the first half of 2017.

The first-quarter levels were at 31.7 percent in both 2017 and 2018, while second-quarter lease penetration inched up from 30.6 percent last year to 30.8 percent this year, according to Edmunds.

In its data set, Edmunds also shared leasing figures for the Big 3 automakers.

Average lease penetration at General Motors through six months of 2018 was at 25.9 percent, down from 30.4 percent in the first half of 2018.

At Ford, leasing climbed from 23.3 percent penetration through six months of 2017 to 25.1 percent in 2018.

For FCA, lease penetration reached 30.5 percent in the first half, up from 27.8 percent a year ago.

In a similar analysis, Equifax monitored lease originations through the first quarter.

It found that there were 849,600 leases written in the first quarter, down 12.7 percent year-over-year. The total amount on those originations was $13.96 billion, a 13.3-percent decrease.

“We see a slight pullback in lease activity from a year ago, but the average origination balance on leases has remained relatively unchanged from a year ago,”  Equifax deputy chief economist Gunnar Blix said in the analysis.

In March, leases issued that month had an average origination balance of $16,586, up 0.14 percent year-over-year. That number is reflective of the amount in the contract and does not include expected residual values, Equifax notes.

 

 

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