At the recent 10th Motor Finance Europe Conference & Awards, industry leaders discussed the evolving automotive financing landscape, focusing on regulatory changes, technology, and revenue strategies for both new and used vehicle leasing.
Key insights
The importance of personalisation and data use in enhancing customer experiences. As the number of car brands grew from 47 to 61 between 2019 and 2024, leasing companies must help consumers navigate their choices based on:
- Lifestyle: vehicles suited to individual preferences and daily needs.
- Specific criteria: filtering vehicles by key features such as size, fuel efficiency, or technology.
- New versions of current models: helping loyal customers transition easily to the latest version of their current vehicle.
- Electric vehicle (EV) clarity: as more consumers consider switching to EVs, there is an urgent need to dispel myths and provide clear, accurate information about EV performance, range, and long-term value.
With average vehicle lifespans increasing, leveraging historical data is crucial for predicting residual values and managing fleets effectively. The market for used EVs is gaining traction, with their resale speed surpassing internal combustion engine vehicles, though leasing firms face challenges due to aggressive pricing tactics affecting long-term value.
Artificial intelligence is becoming vital in delivering personalised customer experiences and optimizing fleet management. Additionally, sustainability is a growing imperative, with impending regulations pushing leasing companies to adopt greener practices and leverage their ESG credentials for competitive advantage.
By 2030, it's projected that leasing will dominate the automotive market, necessitating investments in technology and accurate data to maintain a competitive edge. JATO's expertise in automotive data for over 40 years can support leasing businesses in navigating these challenges and driving growth.
Get in touch with the team to learn more about how JATO supports over 300 leasing businesses and 1,000 fleet managers globally.