There was a surge in EV leasing this summer, accounting for 26 percent of all EV transactions in July — up dramatically from 7 percent in December, J.D. Power data shows.
But counterintuitively, the brands experiencing an explosion in leasing are the ones ineligible for the U.S. government's Clean Vehicle Credit incentive.
EV lease rates in June for Volvo, Mercedes-Benz, Audi and Kia, which don't qualify for the purchase credit, ranged from 60 to 82 percent, J.D. Power data shows. However, Tesla, with its Model 3 and Model Y qualifying for the purchase credit, has an overall lease rate of about 8 percent.