General Motors Financial Company Inc. reported operating lease originations for the nine months ended Sept. 30, 2018 at $17.3 billion, compared to $19.6 billion for the nine months ended Sept. 30, 2017.
Retail customers may be moving away from luxury vehicles and toward trucks and SUVs for their leases, according an analysis from Swapalease.com.
Used-vehicle values have held strong this year. A strong economy and more efficient remarketing strategies are helping make 2018 a banner year for used-vehicle values.
Leasing activity was up in the second quarter of 2018, due in part to a growing use of lease incentives.
With the labor market continuing to strengthen and economic activity rising at a solid rate, the Federal Reserve raised the Federal Funds Rate a quarter percentage point for the second time this year — putting the target for short-term rates in the 1.75 to 2% range.
Retail leasing applicants registered a 70% approval rate on Swapalease during April, a 10% increase from the same time last year, the company announced.
The numbers reveal a number of factories, including Ford, are targeting compact and midsize inventory. Ford offered the most generous discounts on vehicles in those segments.
Lease approval rates registered 67.3% for Swapalease.com in March, which were 2% higher than the month before and signify a possible upswing in approval rates, according to the company.
This wave of off-lease vehicles is expected to be one of the biggest threats that the new-vehicle industry will face this year and the next. And, it won’t just be the sheer volume of relatively new, low-mileage vehicles that will pose a risk to the new-industry; it’ll be the types of off-lease vehicles returning to market that will present the biggest hurdle.
Lease credit approval ratings came in at 55.6% in October, an improvement over the 47.6% approval rating registered the month before, according to data from Swapalease.com.
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