Imports Snatch Lease Share from Domestics
Lease penetration has hovered around 15% since mid-2008, but imports have grabbed a bigger slice of the pie.
So far this year, lease penetration for domestic trucks and SUVs has dropped to 5.4% from 8.7% in the latter half of 2008, according to new data from Automotive Lease Guide. For domestic cars, penetration has declined to 9.1% from 11.7%. Meanwhile, marketshare among imports has climbed to 23.1% from 21.1% for cars and to 19.0% from 16.9% for trucks and SUVs. In the first half of 2008, lease penetration was more than 20% across the board, according to ALG.
Overall, lease penetration will remain around 15% this year, but should inch up to about 20% in 2011, ALG predicts.
As for residual values, the overall decline this year is 1.3 points. Pickups and SUVs —whos auction values were hammered last year when gas prices reached record highs — have seen the greatest improvement this year. The converse has been the case for compact vehicles.
Economic recovery expected by 2012 would go hand-in-hand with residual value strengthening, ALG predicts.
For ALG's complete report, click here.
So far this year, lease penetration for domestic trucks and SUVs has dropped to 5.4% from 8.7% in the latter half of 2008, according to new data from Automotive Lease Guide. For domestic cars, penetration has declined to 9.1% from 11.7%. Meanwhile, marketshare among imports has climbed to 23.1% from 21.1% for cars and to 19.0% from 16.9% for trucks and SUVs. In the first half of 2008, lease penetration was more than 20% across the board, according to ALG.
Overall, lease penetration will remain around 15% this year, but should inch up to about 20% in 2011, ALG predicts.
As for residual values, the overall decline this year is 1.3 points. Pickups and SUVs —whos auction values were hammered last year when gas prices reached record highs — have seen the greatest improvement this year. The converse has been the case for compact vehicles.
Economic recovery expected by 2012 would go hand-in-hand with residual value strengthening, ALG predicts.
For ALG's complete report, click here.
Comment
-
Comment by David Ruggles on September 6, 2009 at 5:38pm - This could have been predicted when Chrysler and GM had to exit leasing and instead focused on longer term finance contracts. The fact that the imports have a volume short term leases they can cycle more quickly gives them a tremendous advantage in the marketplace. Its like having money in the bank.
About
Events
© 2010 Created by JJ Hornblass.
Powered by 
.
You need to be a member of Inside Remarketing to add comments!
Join Inside Remarketing