Ford Ranked Fifth In Top 20 Leased Brands Of Q3 2023

December 15, 2023 11:56 am

Ford Bronco Sport Bronco Trail App - Exterior 001 - Front Three Quarters

Once incredibly popular in the U.S., lease rates have declined significantly over the past year or so, which is partially due to the fact that automakers simply aren’t subsidizing leases with the sort of deals that they once did, mitigating its advantage in terms of monthly payments versus financing. Regardless, Ford continues to perform well in that area, ranking sixth among the top 20 leased makes in Q1 2023 and retaining the same spot in Q2. In Q3, Ford actually moved up a spot to fifth, according to new data from financial services company Experian.

According to Experian’s Q3 2023 State of the Automotive Finance Market report, Ford moved up one spot quarter-over-quarter to fifth place by accounting for 6.24 percent of all leased vehicles. That ranks it behind only Honda (10.95 percent), Chevy (7.73 percent), Toyota (7.51 percent), and Jeep (6.63 percent), as well as ahead of Nissan (5.9 percent), Kia (5 percent), Hyundai (4.93 percent), BMW (4.82 percent), Subaru (4.45 percent), Volkswagen (4 percent), Mazda (3.57 percent), Audi (3.56 percent), Mercedes-Benz (3.03 percent), Lexus (2.58 percent), Acura (2.42 percent), GMC (2.39 percent), GMC (2.39 percent), Tesla (2.26 percent), Volvo (2.24 percent), and Buick (1.6 percent).

In terms of finance to lease mix, Ford sales in Q3 still tilted heavily toward purchases at 81.37 percent versus 18.63 percent for leases, however. That lease figure was actually one of the lowest in the industry in the last quarter, in fact, trailing only Dodge (10.19 percent), Tesla (13.27 percent), Chrysler (15.92 percent), Toyota (16.05 percent), and Jaguar (17.87 percent), making that particular result even more impressive.

In terms of the overall market, a total of 79.09 percent of customers opted to finance their new vehicle purchase in Q3, versus just over 21 percent that chose to lease. That number has declined over the past two years after cresting at 86.44 percent in 2021 and 82.25 percent in 2022, however.

We’ll have more lease data to share soon, so be sure and subscribe to Ford Authority for comprehensive Ford news coverage.

By Brett Foote

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.