Only three automotive brands increased in search traffic from the first quarter, according to the swapalease.com quarterly lease trends report for the second quarter. Infiniti, Ram and Chrysler all saw a rise in search traffic by 10 percent, 5 percent and 3 percent, respectively.
Among domestic brands, GMC saw the largest decrease in the quarter for search traffic ( down 12 percent). A year ago, GMC’s brand searches were up by 14 percent, 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 percent 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 percent.
Infiniti claimed its position as the largest share of overall traffic at 10 percent). A year ago, it was Ram that boasted the most search traffic out of all categories.
The report also showed that SUVs, crossovers, and sports cars all experienced growth in leasing interest during the second quarter.
The average monthly payment on a lease was registered at $474.39-a change from Q1 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.”