The Honda Prologue continues to shock, rating among the many high ten most leased autos (gas-powered or EV) within the US within the first quarter. It was the one EV, exterior of Tesla’s Mannequin Y and Mannequin 3, that made the record.
Honda Prologue EV is among the most leased autos
After launching the Prologue within the US final March, Honda’s electrical SUV took off. Within the second half of the 12 months, it was the second-best-selling electrical SUVtrailing solely the Tesla Mannequin Y.
The Prologue stays a top-selling EV within the US this 12 months, with over 13,500 items bought via Might. That’s not too dangerous, contemplating it solely bought 705 via Might of final 12 months.
In response to a brand new Experian report (by way of Automotive Information), Honda’s success is being pushed by ultra-affordable lease charges. Within the first quarter, practically 60% of recent EV patrons within the US selected to lease, up from simply 36% a 12 months in the past.
Three EVs ranked within the high ten most leased autos in Q1, together with the Tesla Mannequin Y, Mannequin 3, and Honda Prologue.
Tesla’s Mannequin Y and Mannequin 3 took the highest two spots, whereas the Honda Prologue ranked quantity seven. Those that leased Tesla’s Mannequin 3 paid $402 monthly, Honda Prologue lessees paid $486 a month.
Given the common mortgage price was $708 a month for individuals who purchased it, it’s no marvel practically 90% selected to lease. Beneath 9% selected to purchase, whereas lower than 2% paid money.
The reductions are piling up, however for a way lengthy?
To offer you a greater thought, the common month-to-month fee for a brand new car lease within the US within the first quarter was $595.
With over $20,000 in reductions, Honda’s luxurious Acura model is promoting a shocking variety of EVs within the US. The practically $65,000 Acura ZDX is bought for beneath $40,000 on common in Might, in line with Cox Automotive’s EV Market Monitor report for Might.
The pattern is primarily because of the $7,500 federal EV tax credit score, which is being handed on to clients via leasing.
With the Trump administration and Senate Republicans aiming to kill off federal subsidies, the financial savings might quickly disappear. If the Senate’s not too long ago proposed invoice is handed, the $7,500 credit score would expire inside 180 days. It could not solely make electrical autos dearer, however it could additionally put the US additional behind China and others main the shift to electrification.
Some automakers, together with GM, are anticipated to proceed providing the incentives. “GM has been very aggressive on the incentives on their finish, and that isn’t scheduled to finish.”
After outselling Ford, GM’s Chevy is now the fastest-growing EV model within the US via Might. Chevy is beginning to chip away at Tesla’s lead, largely because of the brand new Equinox EV, or “America’s most reasonably priced +315 vary EV,” as GM calls it.
In response to Xperianthose that leased a brand new Chevy Equinox EV in Q1 paid $243 lower than those that financed it. The electrical Equinox stood out in Cox Automotive’s EV Market Monitor report with a mean promoting worth beneath $40,000, even with out incentives.
The Chevy Equinox EV stays one of the crucial reasonably priced EVs available on the market. Beginning at simply $34,995, the bottom LT FWD mannequin affords an EPA-estimated vary of 319 miles.
After Hyundai minimize lease costs earlier this month, the 2025 IONIQ 5 would possibly simply take the cake. Now you can lease the 2025 Hyundai IONIQ 5 (now with a built-in NACS port) for as little as $179 monthly.
Seeking to take a look at out among the hottest EVs for your self? With Honda Prologue leases as little as $259 monthly and Chevy Equinox EV leases beginning at simply $289 monthly, the offers are arduous to move up proper now whereas the incentives are nonetheless right here. You need to use our hyperlinks beneath to search out fashions in your space.
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