Leasing customers turning to ‘in-stock’ vehicles to plug supply gap
Leasing customer interest in ‘in-stock’ vehicles is fast-rising due to continued new car manufacturing impacts from the semiconductor supply shortages.
While customers typically order their vehicles directly from the factory to the exact colour and specification of their choice, data from car leasing comparison website Leasing.com shows drivers are now switching in favour of in-stock models.
Its data reveals that during April, in-stock orders were up 7% on factory orders in comparison to 2019 when factory orders were 27% higher.
Making use of existing dealer stock means that customers can swerve the ongoing delays and the resulting increase in waiting times for new vehicles.
In April 2021 global lead times on vehicles almost doubled from more than 12 weeks in February to 22 weeks, according to stats from Bloomberg.
Paul Harrison, head of strategic partnerships at Leasing.com, said: “At the start of this year, our YouGov research showed that 18% of UK motorists expected to replace their car in 2021. That research has proven correct with new car demand on our website increasing each month this year. More recently, consumer demand has switched to in-stock vehicles as a result of current production issues and this has helped our dealer and broker partners who have been able to access stock, meet in-market consumer demand and help their bottom lines recover from the disruption of the pandemic.”