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EV and PHEV orders hit record high at LeasePlan

By / 5 months ago / UK News / No Comments

2020 was the greenest year in the history of LeasePlan with battery electric vehicles (BEVs) and plug-in hybrids (PHEVs) rising to account for 16.5% of all new orders in Q4.

New orders for electric vehicles and plug-in hybrids increased to a record 16.5% at LeasePlan in Q4 2020 (Q4 2019: 10.0%)

The figure, which compares to 10.0% take-up of BEVs and PHEVs in Q4 2019, has been revealed in its latest financial results and shows the pivotal role that large EV fleets play in tackling climate change, according to the leasing and fleet management specialist.

Its recently published Mobility Insights Report also reveals that more drivers than ever are ready to go electric. The new global research finds a record 65% of drivers say they now have a favourable view of zero-emission electric driving. Nearly half (44%) of all surveyed said that their opinion towards electric driving has improved over the past three years.

And the research also found strong support in the UK. A total of 58% of UK respondents said they have a favourable view of zero-emission electric driving, while half (50%) said that their opinion towards electric driving has improved over the past three years.

LeasePlan – which is further expanding its EV funding solutions – added that it will continue to advocate for accelerated growth in public charging infrastructure and long-term incentives for green driving, ensuring EVs become the common-sense choice for all drivers in the ‘new normal’. It’s also continuing its work to achieve net-zero emissions from its funded fleet by 2030, starting first with employees’ own vehicles.

In its newly published Q4 and full-year results, LeasePlan added that the lockdowns had increased demand for e-commerce related delivery vehicles and it had seen strong growth in its private lease fleet.

The business also said it had delivered a solid performance in 2020, despite the exceptionally challenging circumstances. Profit was down 37% for the full-year to €253m and down 61.0% for Q4 to €45m, while the serviced fleet remained broadly static at 1.85 million vehicles.

Within the digital used car marketplace, although B2C retail sales were lower due to Covid-related store closures, online sales more than doubled and revenues were up over 15%, supported by a new range of e-commerce services, including virtual car appointments and click & collect.

CEO Tex Gunning said: “Despite ongoing restrictions in many markets, we are confident in our ability to withstand any further market disruptions due to the fundamental resilience of our business. Moreover, we are very positive about the what’s next for our business and our industry, as the pandemic accelerates demand for delivery vehicles and safe, personal vehicle subscriptions among SMEs and private customers.

“Going forward, we will unlock this significant growth potential through our continued transition to a fully digital business model, which not only enables us to improve the service we deliver to our customers at lower cost, but will also allow us to integrate a range of new products and revenue streams into our Car-as-a-Service ecosystem.”

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Natalie Middleton

Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. Natalie edits all the Fleet World websites and newsletters, and loves to hear about any latest industry news - or gossip.