Leasing Vehicles for Business: How Interest in EVs & Hybrids is Increasing
Business vehicle leasing is an essential consideration for many companies. It means that there are no hefty upfront payments for staff vehicles, plus tax advantages, fixed monthly payments and (in most cases) maintenance costs are included.
In years gone by, ordinarily, you would find that diesel vehicles were the go-to for business lease cars, thanks to their superior fuel economy and the subsequent expenses compared to petrol.
However, with climate change a hot topic worldwide, diesel is becoming more and more obsolete – plus, there’s the impending sales ban on petrol and diesel vehicles to consider as of 2030.
These days, businesses are looking to go greener and show their employees (and clients) that they’re forward-thinking and care about their actions: step forward, electric vehicles.
The rise of EV business leasing.
According to research from the comparison website, Leasing.com, in the third quarter of 2022 alone, battery electric vehicles, plug-in hybrid vehicles and hybrid vehicles accounted for 53% of business lease inquiries. Moreover, this rise in interest hasn’t shown any sign of slowing down since, which points to businesses prioritising a transition to EVs.
With this transition comes the need for fleet charging, an area where RAW Charging’s expertise and ever-expanding network can excel. Additionally, RAW offers various ownership options that mean businesses can find the right fit for their EV charging solutions, whether that’s RAW’s fully-funded Hosting option with free installation (plus a share of the revenue) or a flexible Pay Monthly annual subscription.
What’s more, EV leasing will also go a long way to boost your ESG credentials. This umbrella term relates to the implementation and measurement of a business’ sustainability but includes factors such as company values, diversity and (of course) environmental impact.
The demand for EV cars for lease continues despite dwindling supplies.
Supply issues with chips and various EV parts are widely reported, but this hasn’t stopped businesses from continuing their charge towards a cleaner, greener fuel source.
These issues have dictated the demand for vehicles, with leasing firmly centred around the manufacturers who could access stock and readily provide businesses and individual parties with EV leases.
Leasing.com found that the most popular EVs for businesses were the Tesla Model Y, Kia Niro and Polestar 2. The Tesla takes the top spot across all fuel types, with the Ford Ranger and Nissan Qashqai taking up the other two places. On average, it was found that businesses preferred to lease new vehicles on a three-year contract and annual mileage allowances of 10,000.
With this in mind, an EV charging solution such as RAW Charging’s fully-funded Hosting ownership option would be the ideal fit for most businesses according to their leasing behaviour. Furthermore, RAW’s hosting partnership includes a free installation; at the same time, there’s no management required from the business side – perfect for busy companies who simply wish to provide dependable destination charging for their workforce.
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If you believe your business could qualify as a RAW Charging host partner, please contact the team who will assess the feasibility of your site, whether that’s one location or 100.