BUSINESS users and SME fleets are increasingly turning to electric vehicles for their company car leases, as firms and individuals take advantage of the low levels of benefit in kind taxation.
Data from Leasing.com, a leasing comparison portal, demand for battery, plug-in and hybrid electric vehicles combined accounted for more than half (53%) of business lease enquiries during Q3 2022, despite ongoing issues over supply.
According to the leasing site, the top three most popular electric vehicles for businesses were:
- Tesla Model Y;
- Kia Niro, and;
- Polestar 2.
On average, businesses sought out new vehicles on three-year contracts with an annual mileage allowance of 10,000 and were looking to spend on average £527 per month excluding VAT.
Our data again shows how important leasing is as an enabler to the electrification of the new car market. Business EV demand remained strong in Q3 and was particularly focused around the brands and advertising partners who could access stock.
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