The Honda Prologue continues to shock, rating among the many prime ten most leased automobiles (gas-powered or EV) within the US within the first quarter. It was the one EV, exterior of Tesla’s Mannequin Y and Mannequin 3, that made the listing.
Honda Prologue EV is among the most leased automobiles
After launching the Prologue within the US final March, Honda’s electrical SUV took off. Within the second half of the yr, it was the second-best-selling electrical SUV, trailing solely the Tesla Mannequin Y.
The Prologue stays a top-selling EV within the US this yr, with over 13,500 items offered by way of Might. That’s not too dangerous, contemplating it solely offered 705 by way of Might of final yr.
In line with a brand new Experian report (through Automotive Information), Honda’s success is being pushed by ultra-affordable lease charges. Within the first quarter, practically 60% of recent EV consumers within the US selected to lease, up from simply 36% a yr in the past.
Three EVs ranked within the prime ten most leased automobiles in Q1, together with the Tesla Mannequin Y, Mannequin 3, and Honda Prologue.
Tesla’s Mannequin Y and Mannequin 3 took the highest two spots, whereas the Honda Prologue ranked quantity seven. Those that leased Tesla’s Mannequin 3 paid $402 per thirty days, Honda Prologue lessees paid $486 a month.
Given the typical mortgage price was $708 a month for many who purchased it, it’s no marvel practically 90% selected to lease. Beneath 9% selected to purchase, whereas lower than 2% paid money.
The reductions are piling up, however for a way lengthy?
To offer you a greater thought, the typical month-to-month cost for a brand new automobile lease within the US within the first quarter was $595.
With over $20,000 in reductions, Honda’s luxurious Acura model is promoting a stunning variety of EVs within the US. The practically $65,000 Acura ZDX is offered for underneath $40,000 on common in Might, based on Cox Automotive’s EV Market Monitor report for Might.
The pattern is primarily due to the $7,500 federal EV tax credit score, which is being handed on to prospects by way of leasing.
With the Trump administration and Senate Republicans aiming to kill off federal subsidies, the financial savings may quickly disappear. If the Senate’s lately proposed invoice is handed, the $7,500 credit score would expire inside 180 days. It could not solely make electrical automobiles costlier, however it might additionally put the US additional behind China and others main the shift to electrification.
Some automakers, together with GM, are anticipated to proceed providing the incentives. “GM has been very aggressive on the incentives on their finish, and that’s not scheduled to finish.”
After outselling Ford, GM’s Chevy is now the fastest-growing EV model within the US by way of Might. Chevy is beginning to chip away at Tesla’s lead, largely due to the brand new Equinox EV, or “America’s most inexpensive +315 vary EV,” as GM calls it.
In line with Xperian, those that leased a brand new Chevy Equinox EV in Q1 paid $243 lower than those that financed it. The electrical Equinox stood out in Cox Automotive’s EV Market Monitor report with a mean promoting value underneath $40,000, even with out incentives.
The Chevy Equinox EV stays one of the vital inexpensive EVs in the marketplace. Beginning at simply $34,995, the bottom LT FWD mannequin gives an EPA-estimated vary of 319 miles.
After Hyundai reduce lease costs earlier this month, the 2025 IONIQ 5 would possibly simply take the cake. Now you can lease the 2025 Hyundai IONIQ 5 (now with a built-in NACS port) for as little as $179 per thirty days.
Trying to take a look at out a few of the hottest EVs for your self? With Honda Prologue leases as little as $259 per thirty days and Chevy Equinox EV leases beginning at simply $289 per thirty days, the offers are laborious to move up proper now whereas the incentives are nonetheless right here. You need to use our hyperlinks beneath to seek out fashions in your space.
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