Press Release
Press Release
The light commercial vehicle leasing market in Europe is being driven by the rising demand for light commercial vehicles for leisure activities, commercial projects, and transportation activities, among others. In addition to this, the growing awareness about the benefits of light commercial vehicles such as fuel efficiency, reduced repair frequency, and enhanced safety, among others, coupled with the changing preference of consumers towards leasing is likely to provide impetus to the market in the forecast period. Moreover, the thriving automotive industry, coupled with the growing research and development activities to bolster the quality and features of light commercial vehicles is anticipated to augment the market growth.
Furthermore, the market is expected to be aided by the growing integration of AI and technologically advanced features to deliver convenient vehicle leasing experience to the customers in the region. The presence of advanced infrastructure, increasing demand for cars, and the thriving transportation sector are supporting this trend. Additionally, the stringent government regulations aimed towards curbing air pollution are likely to catapult the demand for light commercial vehicle leasing in the forecast period in Europe.
In December 2021, Stellantis NV (BIT: STLA) announced its decision to form European car leasing unit to give competition to the rivals. As per the announcement, the company would create a standalone leasing unit with Crédit Agricole, a French lender and one of the company’s main banking partners in Europe.
Globally, various companies operating in the light commercial vehicle leasing market are focusing on improving customer experience by devising innovative strategies. For instance, in May 2021, PacLease, a part of the financial services group of PACCAR Inc (NASDAQ: PCAR), announced a new fuel program partnership for its full-service lease and contract maintenance customers.
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