The Tesla Model 3 Made the List of Most-Leased Vehicles as First EV

Chris Teague
by Chris Teague

Beyond tracking your credit score, Experian tracks trends and data in the automotive industry, including the most popular leased models. While the list is typically dominated by high-volume gas vehicles like the Ford F-150 and Nissan Rogue, the Tesla Model 3 is on a run that made it the first EV to make the top 10 most leased vehicles in the second quarter of 2023.

Model 3 leases accounted for 1.79 percent of all leased vehicles in Q2, which was around 25 percent of the car’s overall sales numbers of around 42,000. The jump represents a 14 percent increase from the year before, and it lands the Tesla in seventh place on the list, behind the Chevy Equinox and ahead of the Honda Civic.

While this is an important milestone for Tesla and EVs in general, the Model 3 is still surrounded by full-size trucks and many SUVs on the list. The only other sedan in the top 10 was the Honda Civic, while the three most-leased vehicles included the Ford F-150 at number one, followed by the Honda CR-V and Nissan Rogue.

Leasing some EV models has become popular for buyers because of loopholes in federal tax credit rules that open the door for credits to previously ineligible vehicles. The Model 3 recently became re-eligible after a rules change at the beginning of 2023 that removed the cap on units sold.

[Image: Tesla]

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Chris Teague
Chris Teague

Chris grew up in, under, and around cars, but took the long way around to becoming an automotive writer. After a career in technology consulting and a trip through business school, Chris began writing about the automotive industry as a way to reconnect with his passion and get behind the wheel of a new car every week. He focuses on taking complex industry stories and making them digestible by any reader. Just don’t expect him to stay away from high-mileage Porsches.

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8 of 12 comments
  • Tassos Tassos on Sep 18, 2023

    TESLA had far more important and milestone news than that today, but I bet you will wait two days before you report it.

    TESLA Just installed its 50,000th Supercharger

    TESLA has just made its FIVE MILLIONTH EV.

    More importantly, it took TESLA 12 years to make its 1000000th BEV, but only THREE years to make FOUR MORE MILLIONS of them

    As I said, it does not just DOMINATE the WORLD BEV Industry


    Now let's see how high the rabid TESLA Haters jump.

    PS haters, there was even MORE AWESOME TESLA News today.

    THey just got their 2,000,000th Reservation for the CYBERTRUCK.

    • See 1 previous
    • MaintenanceCosts MaintenanceCosts on Sep 18, 2023

      I'm not a Tesla hater but this sort of fanboy mush is nauseating.

      Tesla owns the BEV market not because its products are inherently better (they are better in some ways, worse in others) but for two other reasons: (1) it has done a much better job of securing battery supply than other OEMs and (2) its direct sales model stops dealers, who are addicted to ICE service revenue, from dissuading EV intenders.

      Tesla has very good powertrain tech and generally good driving characteristics other than ride. On the other hand, they have poor interior quality, uncomfortable seats, hard rides, and overly screen-dependent interfaces. The cars are not world-beating, the business model is.

  • MaintenanceCosts MaintenanceCosts on Sep 18, 2023

    Tesla has the opposite problem from most EV makers: awash in battery supply, it has to figure out how to move ever-growing amounts of production. Leasing is a way to get a few more people in the door, and the terms of the Tesla lease are fairly reasonable except for the lack of a lease-end purchase option. This doesn't seem surprising to me.

    • Analoggrotto Analoggrotto on Sep 19, 2023

      What you are missing is the pedigree one buys into by being seen in a Tesla. Only the most educated, affluent, educated and intelligent of the human race will ascend to the stars in a Tesla.

  • VoGhost VoGhost on Sep 18, 2023

    Bob Lutz, 09/18/2018 on CNBC: "Tesla has no technological advantage, no software advantage, no battery advantage. No advantages whatsoever." "In another year or two, we'll see a movie called 'Who killed Tesla?""

    Typical exhaust breather, worshiped as an expert on this site for years.

    • Analoggrotto Analoggrotto on Sep 19, 2023

      That guy was a senile dingbat back in 2003 when the G6 starred on Oprah and has not changed much since.

  • Analoggrotto Analoggrotto on Sep 19, 2023

    Tesla is the ultimate statement of self professed intelligence. Those who lease Tesla are OWNING a MAJOR slice of the future. For when SpaceX reaches the end of the galaxy, they will conquer the fabric of time and reality placing each Tesla owner as the steward of a grand successor to humanity and a society where intelligence is the true currency of which each Tesla owner has the most of. Only Supreme Arch Saint Mega Lord Savior ELON MUSK could make this happen.