Swapalease.com, the nation’s largest online car lease marketplace, today released its quarterly lease trends report for the second quarter of 2017.
The report shows that only three brands increased in search traffic from the first quarter. Infiniti, Ram and Chrysler saw a rise in search traffic by 10%, 5% and 3% respectively.
Among domestic brands, GMC saw the largest decrease in the quarter for search traffic (-12%). A year ago, GMC’s brand searches were up by 14%, showing that consumers may be turning their attention elsewhere for leases.
For European brands, Volkswagen saw the biggest dip in search traffic, decreasing by 11% compared with the first quarter. Not a single brand in the European category increased in search traffic this quarter.
Within the Asian category, Acura performed the worst, decreasing in traffic by 11%.
Infiniti claimed its position as the largest share of overall traffic (10%). A year ago, it was Ram that boasted the most search traffic out of all categories.
The average monthly payment on a lease was registered at $474.39 a slight change from Q1 of 2017 when the average payment was $436.35. BMW is currently the most expensive brand to lease with an average monthly payment of $862. Conversely, Volkswagen is the most inexpensive brand to lease with an average monthly payment of $318.
The report also shows that higher-priced leases (monthly payments above $500) saw increases in the second quarter compared with the first, possibly indicating continued strength in the economy.
“Our second quarter lease trends report shows that leasing remains strong in the automotive marketplace today, with increases in value of payment and number of leases in the driveways,” said Scot Hall, Executive Vice President of Swapalease.com. “We’re also seeing growth in SUVs, crossovers, and sports cars interest, which mirrors much of what is taking place in the broader automotive market today.”