Trends that will redefine Auto Leasing in 2020
As per the industry speculations, Electric Vehicle and Private Car Leasing would be the biggest contributors in the leasing market. With the future of mobility departing from fossil fuels, it’s evident that the leasing industry is all set to experience a major transformation in coming time. Here are the factors that would shape the future of automotive leasing in 2020. OEMs migrating towards EV leasing There are two major factors behind automotive manufacturers focusing aggressively on electric vehicles for the leasing market because of two particular reasons. First, the rate of depreciation for EVs is higher when compared to their internal combustion engine counterparts. Hence, leasing saves customers from worrying about low resale value. Second, leasing enables the customers to switch their EV models regularly since a new electric vehicle is showcased in the automobile industry every now and then. Wider appeal of private leasing As the number of first car buyers incr