Wednesday, May 22, 2024

Privately leased electric cars in crazy growth of over 300 percent

Private leasing is booming among Danish consumers, and where the focus has been on the general figures for private leasing, it becomes even more violent if you delve into the figures for electric cars. Here, the latest calculations show an increase of 333% in the past year.

In March 2023, private leasing accounted for 15% of total new car sales, while a year later, i.e. in March 2024, the share has grown to 23%. This corresponds to an increase in share of 78%.

The electric car market has therefore changed historically, and the figures are an expression of the fact that car buyers are proceeding cautiously, according to several experts. The fact that Danes have become significantly happier with private leasing in recent years does not surprise the Swedish performance electric car brand Polestar, who, based on new figures from De Danske Bilimportorer, can report that it is especially electric cars that Danes want to privately lease.

In the electric car market alone, the number of privately leased cars has grown by as much as 333% in the first quarter of 2024 compared to the first quarter of 2023, and thus the Danish car market has changed in record time. This causes Polestar to announce a new sharp and highly competitive price, where it becomes possible to lease a Polestar 2 for only DKK 3,995 per month.

"There is no doubt that we are currently in a car market that is undergoing major transformation both at home and globally. Right now, many Danes would rather lease than own, and we naturally appreciate that at Polestar . Ever since we came to Denmark three years ago, Polestar has succeeded in having the market's best prices for private leasing, and this has contributed to our success in the Danish market," says Henrik Bang, director of Polestar, and continues:

“A sharp leasing price depends in particular on how much or how little a given model loses during the leasing period, combined with the repair and service costs anticipated by the leasing company. And on these two parameters, Polestar has proven to be very strong in the market with low monthly payments as a result. That is why we are also proud to now be able to announce a new and extremely sharp price of only DKK 3,995 to lease a Polestar 2, which should make it possible for even more Danes to get close to a premium electric car with exceptionally good Korean characteristics." says Henrik Bang.

Market analyst: "It's the importers' way of offering consumers security in the market"
According to Jan Lang, who is a market analyst at Bilbasen, we face a market that has never been more complex. A historically unstable market inevitably affects the doubts of the Danes and causes them to go around the hot frog, as far as choosing a car is concerned, for longer than before.

"Private leasing is developing at lightning speed as a consequence of the competitive market we are in. Nothing is constant in this area, and since the first quarter of 2023 the number of offers for private leasing in Denmark has grown from approximately 100 to approximately 280 in the first quarter of 2024 This is an absolutely extraordinary development. Private leasing is the importers' way of offering consumers a security and accessibility that is more difficult to achieve with a traditional car purchase. Private leasing thus becomes an extremely relevant shortcut to premium electric cars – and to cars in general. In other words, it is a product that car factories and importers can no longer ignore as a sales channel," says Jan Lang

The new private leasing offer from DKK 3,995 is done in collaboration with Santander and is for Polestar 2 Long range Single engine with Pilot package incl. 15,000 km annually and DKK 14,995 in initial payment.

As part of the new private leasing offer, Polestar also offers its top model, the Polestar racing car with four-wheel drive in the form of the Long range Dual motor variant with the Pilot and Plus package and a whopping 421 horsepower for only DKK 4,595 incl. 15,000 km annually and DKK 14,995 in initial payment.

Common to all variants in the offer is that the new private leasing prices on all variants for the entire leasing period are far below the retail price by a factor of less than 40%.

See all the new private leasing prices on all variants here www.polestar.com/dk/privatleasing

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