Car manufacturers lead on sustainability, leaving leasing companies in the dust

In the race towards a greener future, it’s a curious twist of fate that car manufacturers have taken the lead in showing the way to leasing companies.

While some automakers and large corporations have committed to a complete transition to electric vehicles by 2030, leasing companies have yet to make a similar pledge to phase out fossil fuel cars.

This is a significant stumbling block in Europe’s path to embracing e-mobility and reducing transport emissions.

A recent report by Transport & Environment (T&E) has shed light on this issue. T&E’s study evaluated Europe’s top seven car leasing companies based on a framework of seven green mobility criteria, and the results were far from encouraging. None of these companies met the standards they touted for themselves.

The firms under scrutiny included Volkswagen Financial Services, Mobilize Financial Services, Ayvens (formerly ALD/LeasePlan), Arval, Leasys, Alphabet, and Athlon. Collectively, these companies manage a fleet of nearly 10 million cars in the European Union. It’s noteworthy that leasing contracts now account for half of all new car registrations in Europe.

This revelation underscores the urgent need for leasing companies to step up their green efforts, aligning their actions with the goals of a more sustainable future.

Young drivers priced out of EV market, says Fleet Evolution