In the fourth quarter of 2023, Ford remained one of the most leased brands in the U.S. by accounting for 6.18 percent of the total market – the fourth highest percentage overall, in fact, which was also true of Lincoln. However, at the same time, the vast majority of Ford’s customers opted to finance their new vehicle purchase in Q4 as well – 80.23 percent versus 19.77 percent that chose to lease. When it comes to EVs, that trend held true as well, though not only for the Ford Mustang Mach-E and some of its rivals – but also, the Ford F-150 Lightning, according to Experian’s latest State of the Automotive Finance Report.
According to this new data, a total of 67.07 percent of Ford F-150 Lightning customers in the final quarter of 2023 opted to finance their purchase rather than lease, which is actually the highest of any EV on this particular list. Additionally, as Ford Authority previously reported, the F-150 Lightning also ranked among the top-selling EVs in Q4, accounting for 2.31 percent of total sales in that particular segment. By contrast, just 8.46 percent of F-150 Lightning customers opted to lease their EV pickup, and 24.47 percent paid cash.
Interestingly, the vast majority of EVs on this list fell far behind that rate, though it is worth noting that in the case of Tesla and Rivian, leases aren’t offered in all 50 U.S. states as of yet. Regardless, certain EVs – such as the Volkswagen ID.4, BMW iX, Hyundai Ioniq 6, Kia EV6, BMW i4, and Nissan Ariya – posted lease rates that were far higher than the rest of their competition – both direct and indirect – which is indeed notable.
We’ll have more on the F-150 Lightning, so be sure and subscribe to Ford Authority for the latest Ford F-Series news, Ford F-150 news, F-150 Lightning news, and non-stop Ford news coverage.
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