Electric Car: Jaguar Adds “Hybrid” Long-Term Leasing Offer

Electric Car: Jaguar Adds “Hybrid” Long-Term Leasing Offer

FACTS

  • Through their Jaguar Fleet&Business Leasing arm, Jaguar proposes a long-term leasing solution in partnership with ALD Automotive, for French corporate customers. This contract is meant for people who own an electric car.
  • This offer called Jaguar Switch allows their corporate customers currently renting Jaguar I-Pace electric car to benefit from an additional combustion-powered vehicle 60 days per year, based on their needs and for a limited number of miles.
  • This service has been included in long-term leasing contracts for all companies who might be leasing eligible Jaguar or Land Rover models from some of their partner car dealers in France. Customers may contact a dedicated call centre to book one of these combustion-powered vehicles. The car is then shipped at no extra in France and at no extra cost either.

CHALLENGES

  • Help the electric car market grow. With this offer, the British car manufacturer contributes to generalising the use of electric cars rather than combustion-powered vehicles, despite autonomy-related issues when it comes to riding long distances.
  • Benefit from their leasing arm’s expertise to transparently identify financing solutions best suited to their customers’ needs, in return for a monthly rent which includes insurance and assistance services.
  • Also, their customers do not have to handle logistical constraints in dealing with fleet management: Jaguar acts as a trusted partner.

MARKET PERSPECTIVE

  • This initiative combines long-term leasing for an electric car and a standard car model (gasoline-fuelled or diesel). It matches an increasingly prevailing trend in the car industry. Car more electric cars see the day, flexible options are required to meet car fleets and corporate needs.
  • Car makers, such as Jaguar Land Rover, understood this well. They tend to propose more financing contracts where both motorisation systems are featured: combustion-powered vehicles are used instead of the electric car when necessary. These “hybrid” options are particularly relevant as diesel fuel is currently criticised in Europe, even if it still prevails in car fleets.
  • Several other players are betting on electric vehicles: Renault (in France) and Volkswagen (in Belgium), for instance. More globally, some industry specialists also started focusing on electric car charging solutions, and pay special attention to the ongoing transition towards electric mobility (e.g.: Volvo, BMW and Renault).

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