Tesla Model 3 becomes most popular EV to lease

The Tesla Model 3 has become the most popular electric vehicle (EV) to lease, according to Leasing.com’s league tables.

In one week, the new model generated more leasing enquiries than rivals cars (Audi e-tron and Jaguar I-Pace) managed in a month.

Paul Harrison, head of strategic partnerships at Leasing.com, said: “The Model 3’s popularity is down to several factors, with cost being one of them. Monthly prices for the Model 3 start at around £400 per month, which is almost half the cost of Tesla’s larger models. It also undercuts comparable EVs such as the Audi e-tron and Jaguar I-Pace.”

“Obviously the UK is one of the last countries to get the Model 3, and the long waiting period for right-hand drive models no doubt contributed to this huge early surge in interest too. It’s early days yet, but if the Model 3’s popularity continues at a comparable pace over the next few months, then Tesla could have delivered its first mass-market electric car.”

Combined interest in the Model 3, I-Pace and e-tron has seen EV enquiries increase 30% year on year during the first five months of 2019.

“This is a strong sign that lots of consumers are ready to make the jump to next-generation vehicles and leasing is offering them the ideal opportunity to test the waters,” said Harrison.

Tesla has been accepting orders for the Model 3 since May, when it announced UK pricing. It states that reservation holders – those who pre-paid a deposit – will have preferential delivery, but currently suggest a lead time of less than eight weeks on its website for new orders.

Elsewhere on the Leasing.com League Table, the Mercedes-Benz A-Class remains in pole position as the most popular personal lease car, while keen pricing of the E-Class saloon pushed the VW Golf into third position.

The all-new Range Rover Evoque jumped from eighth position to fourth, but Mercedes is still the most sought-after manufacturer among personal lease customers.

Top 10 electric and hybrid car enquiries for May: