Hyundai has seen its popularity grow in the leasing market in June thanks to the affordability and availability of its hybrid EV model, according to data from Leasing.com.

Driven by the Hyundai Ioniq hybrid model range, which had the most enquiries of all vehicle derivatives, the Korean manufacturer saw its position jump from 13th to 5th in Leasing.com’s June league table of most popular car manufacturers.

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A closer look at the league table reveals a lot of key consumer behaviour patterns that explain the model’s success. In the second quarter of 2021, requests for electric vehicles overtook diesel engines for the first time, compared with January 2020 when the combined total enquiries for electric vehicles was three times lower than diesel.

A key factor in the Ioniq’s success has been its affordability in relation to other models, with almost half of Ioniq enquiries on deals under £200 a month. The cost of EVs is often a barrier to potential converts who are otherwise open to the technology. Leasing.com data shows consumers increasingly moving away from the luxury brands towards more affordable options including Hyundai.

The in-stock availability of the model appears to be another important factor. The global semiconductor shortage continues to plague the automotive industry, which is seeing consumers favour pre-built vehicles that have already been delivered. This is clearly reflected in the Leasing.com data, with more than 90% of enquiries made for in-stock versions of the vehicle.

Paul Harrison, head of strategic partnerships at Leasing.com, says the Ioniq’s popularity provides an insight into the industry as a whole: “Three of the most important trends that we’ve seen so far in 2021 have been the acceleration of EV adoption, the cost-consciousness of consumers, and the preference for in-stock vehicles driven by the global chip shortage. The popularity of the hybrid Ioniq is a reflection of all three of these.”

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Elsewhere in the league tables, the Cupra Formentor remains the most popular model, though there was a 53% drop in enquiries this month. This has led to Cupra’s position in the league tables dropping from 4th to 7th, with Mercedes-Benz going the other way. Aside from this, the manufacturer league tables remain largely unchanged, although Seat and Peugeot both entered the top 10 in June at 9th and 10th place respectively.