Ram Up, Chrysler Down in Q4 Lease Report
Swapalease.com’s Q4 2018 Lease Trends Report finds Ram, Acura, and Subaru gaining interest and Chrysler, GMC, and Buick on the decline.
Interest in leases for such Ram models as the 2018 1500 Laramie Longhorn Southfork increased by an industry-leading 10% in Swapalease.com’s Q4 report.
Photo courtesy Fiat Chrysler Automobiles
CINCINNATI — The Q4 2018 Lease Trends Report from Swapalease.com finds interest among consumers declining for Chrysler (-16%), GMC (-13%), and Buick (-10%) and increasing for Ram (+10%), Acura (+4%), and Subaru (+4%) compared with the previous quarter.
Swaplease.com’s report is based on activity in its online lease marketplace. In the fourth quarter, analysts found more people looking for foreign brands in leasing compared with domestic. Interest in foreign cars was listed at 67.8% in Q4, up from 62.0% in Q3. Interest in domestic leases dropped from 38% in Q3 down to 32.2% in Q4.
The average payment of an existing lease on the road as reported in Q4 was $519.14, up from $510.22 in Q3. The average months remaining on a lease before a person wants out was listed at 29.2 in Q4, up from 26.7 in Q3. Incentives offered by those looking to get out of a lease averaged out to $582.71 per vehicle in Q4, down from $630.19 in Q3.
“During the fourth quarter, we saw mostly stable trends for leasing overall, particularly as it relates to general lease demand heading into the new year,” said Scot Hall, executive vice president of Swapalease.com. “We are interested in watching the trend of the growth in foreign brands for leasing over domestic, and it will be interesting to see how this trend evolves throughout 2019.”
To read the full report, click here.
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