Sia Partners 2024 International Car Lease Benchmark

The growing demand for enhanced digital connectivity drives transformations in the rapidly changing car leasing industry. As the industry adapts swiftly, the emphasis is on providing customer-centric, full-service solutions. Emerging trends like the rise of new technologies heightened customer expectations, and the influx of tech-savvy entrants are reshaping the market. Sia Partners aims to lead the way, helping clients shape this new industry paradigm.

Sia Partners’ Car Lease benchmark first edition provides an in-depth look at the B2B operating car lease digital customer journey, assessing various aspects like features, user experience, pricing, and product options.

Sia Partners’ 2024 Car Lease Benchmark first edition assessed the performance of 79 providers operating car lease digital customer journey in 10 countries across the Benelux, France, UK&I, North America and Australia. The providers in the scope of the study were assessed on more than 60 criteria in 4 scoring streams: functionalities (FX), user experience (UX), ESG offer and App availability.

Global Car Leasing Benchmark 2024 | Key numbers

The Benchmark methodology, based on the 4 scoring streams, follows an objective and transparent scoring method. The primary scoring streams include:

• Functionalities (50% of total score): Evaluating the different range and completeness of the functionalities offered by the provider.
• User Experience (35% of total score): Reviewing the convenience, design and accessibility of the website.
• ESG offer (10% of total score): Assessing the availability of features and incentives related to sustainability.
• Mobile application (5% of total score): Reviewing the availability of a mobile application.

In this benchmark first edition, leading Dutch platforms stand out while the rest of the market shows significant disparities in functionalities and user experience.

Car leasing top performers distinguish themselves with complete end-to-end digital offering services including simulation tools and tailoring options, while the remainder provides a more limited digital customer journey.

Despite the Dutch outstanding performance as Digital Leaders, Belgium claims the #1 position with LeasePlan.

Below are some key takeaways on how the providers performed and the overall areas for improvement:

• Providing a robust simulation tool gives top players a significant advantage over those with limited or no simulation options.
• The customer portal and app availability score highest among all groups, indicating the industry's acknowledgement of digital tools' role in improving customer engagement and post-sales support.
• User experience (UX) and support is an area disparity in terms of performance, yet with improvement opportunities for all car lease providers.
• Subscription services score the lowest among all groups, revealing a missing end-to-end digital customer experience in the business car leasing market.

The following ranking displays the Global Top Ten Car Lease Providers of 2024:

Sia Partners' benchmark serves as a valuable guide and offers insights into the market for financial institutions’ digital services and platforms. At Sia Partners, we support our clients in their journey throughout the whole process, from identifying opportunities and developing digital strategies to the implementation and integration of new technologies.