24.06.2021 / LCV leasing in January-April 2021

The agency Russian Automotive Market Research analyzed the LCV leasing market for four months of 2021.

Over the first four months of 2021, a total of 11.4 thousand light commercial vehicles were issued for financial and operational leasing, which was a 97% rise on the results of 2020. Of them 11.0 thousand units are new, which was a 93% growth year-on-year.

Light commercial vehicles

In January-April 2021¹, 11.2 thousand new and used light commercial vehicles were issued for financial leasing, which was a 101% rise on January-April 2020². Of them 10.8 thousand new light commercial vehicles were issued, which was a 97% growth year-on-year.

The equity participation of the majority of lessees in financial leasing transactions changed. The share of individuals increased from 1% to 5%. The share of sole proprietors among leasing recipients, on the contrary, fell from 11% to 10%, while that of companies with state participation was down from 3% to 2%. It should be noted that the joint share of other companies decreased and amounted to 83% (see Fig 1).

Over the first four months of 2021, 207 new and used LCV were issued for operational leasing, which was a 9% decline on the similar period of the last year (see Fig. 2). Of them new light commercial vehicles accounted for 206 units (-2% year-on-year) (see Fig. 4). In January-April 2021, the share of operational leasing in the new LCV leasing fell by 1.8% and amounted to 1.9% (see Fig. 5).

In January-April 2021, the share of leased vehicles³ in new corporate LCV sales grew by 9.6% and amounted to 36.5% (see Fig. 6).

Fig. 1 LCV in financial leasing by lessee, %

Source: Federal resource, Russian Automotive Market Research

Fig. 2 Financial and operational leasing of new and used LCV, thousand units

Source: Federal resource, Russian Automotive Market Research

Fig. 3 Structure of new and used LCV leasing, %

Source: Federal resource, Russian Automotive Market Research

Fig. 4 Financial and operational leasing of new LCV, thousand units

Source: Federal resource, Russian Automotive Market Research

Fig. 5 Structure of new LCV leasing, %

Source: Federal resource, Russian Automotive Market Research

Fig. 6 Leasing penetration into new corporate LCV sales, %

Source: Federal resource, Russian Automotive Market Research