Even as the automotive industry at large struggled with supply chain issues caused by the pandemic and a global chip shortage, the used car leasing domain witnessed a dramatic transformation, fueled by increased consumer interest. This shift is largely driven by two primary factors: a growing appetite for cost-efficient automotive solutions, such as flexible leasing options; and fierce competition between established leasing companies and new entrants. This competitive environment is spurring innovation, resulting in more accessible and environmentally friendly options like electric vehicle (EV) leasing.
To drive transformation in this dynamic realm, Frost & Sullivan has launched the Leasing and Rental Think Tanks. These collaborative forums unite industry experts to explore growth opportunities, address challenges, and exchange competitive strategies.
Are you capitalizing on pivotal growth opportunities arising within the used car leasing ecosystem, to maximize your competitive success?
Remarketing Used Cars: Independent leasing companies are now directly marketing off-lease vehicles to end users. This shift has given rise to an ecosystem that includes company-owned, privately-owned, off-lease, and dealership-leased vehicles. In this context, remarketing strategies that focus on flexible leasing and subscription models present unique growth opportunities for both established and emerging players.
Harnessing Competitive Strategies: In the realm of used car leasing, industry participants are employing a range of competitive strategies, with a primary focus on delivering innovative solutions like vehicle subscription and car-sharing. Moreover, they are improving customer support by introducing services such as guaranteed replacement vehicles.
To delve deeper into these opportunities and hear from industry experts, click here.
The growth opportunity landscape remains largely unexplored, yet mounting competitive pressures demand proactive measures to maintain a leading edge. It is becoming crucial for success-driven ecosystem players to delve into key growth avenues, such as off-highway fleet management solutions and EV charging fleet management, to sustain long-term growth. Are you prepared to be among them?
