Latest news with #leasing
Yahoo
an hour ago
- Automotive
- Yahoo
More U.S. consumers chose to lease EVs, rather than buy them, in Q1
Nearly 60 percent of U.S. consumers who purchased a new electric vehicle in the first quarter leased it, up significantly from 36 percent from a year ago, according to Experian. For comparison, only 25 percent of all new-car buyers leased their vehicle in the same time period. About 31 percent of new-EV buyers financed their purchase and just over 10 percent paid cash. The high EV leasing rate indicates a trend building since the tax credits came into effect in the U.S. and made monthly EV lease payments attractive to many consumers. But the Senate Finance Committee recently proposed eliminating the $7,500 EV tax credit. The Senate could move up the plan to phase out the credits set out in the House bill passed May 22. The changes would go into effect 180 days after the bill's passage. Some EV buyers are still willing to pay a premium, but others might not see the value if the cars are more costly, said Matthew Phillips, CEO of Car Pros, based in Renton, Wash. 'If it is less affordable than a comparable ICE vehicle, then they are not going to be very interested,' Phillips said. Sign up for the Automotive News F&I Report to get news, ideas and commentary delivered each Wednesday afternoon on how to maximize profits from your F&I products and services. Meanwhile, another dealership group anticipates automakers could offer incentives on their EVs to keep pricing down. 'GM has been very competitive on the incentives on their end and that is not scheduled to end,' said Joe Jackson, general sales manager for Bowman Auto Group in Michigan. 'Even if we see the federal $7,500 go away on the new side and $4,000 on the used side, we expect GM to remain committed to those lease programs.' The auto industry will have to see how changes to federal EV policy impact the market. Meanwhile, here are a few more first-quarter EV finance figures from Experian. The volume of EVs sold has been fairly stable at around 9 or 10 percent the past few quarters, said Melinda Zabritski, Experian's senior director of automotive financial solutions. The lack of growth could indicate the market is responding to the potential rollback of EV incentives, Zabritski said. The Tesla Model Y and Model 3 were the top two leased new vehicles in the first quarter. The all-EV Honda Prologue was No. 7 on the list. Customers who leased the Model Y will pay $426 a month on average. Those who leased the Model 3 will pay $402 monthly; Prologue lessees will pay $486 a month. In comparison, the average monthly payment of all new leases was $595 in the first quarter. Nearly 90 percent of new Prologue customers leased their vehicle in the first quarter. Less than 9 percent of them bought the car with a loan; less than 2 percent paid cash. Customers who paid for the Prologue with a loan in the first quarter will pay $708 a month on average. The average payment difference between a lease and a loan for all new cars sold in the first quarter was $142. Some new EVs had even bigger payment differences. For example, customers who leased their Chevrolet Equinox EV in the first quarter will pay $243 less on average than those who purchased the Equinox EV with a loan. New-EV buyers had an average credit score of 774 in the first quarter of 2024, but that fell to 767 this year. Meanwhile, the average ICE vehicle buyer had a credit score of 750 early last year and that rose to 752 in the first quarter of 2025. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
3 days ago
- Business
- Reuters
Trump administration moves to expand oil and gas leasing in Alaska reserve
June 17 (Reuters) - The Trump administration proposed opening 82% of Alaska's 23-million-acre (9.3-million-hectare) National Petroleum Reserve for oil and gas leasing, a move that would reverse Biden-era efforts to limit drilling in the area, the Interior Department said on Tuesday. The move aligns with President Donald Trump's energy dominance agenda that aims to boost domestic oil and gas production to stimulate the economy and create jobs. Former President Joe Biden's administration had blocked development in some parts of the reserve, known as the NPR-A, to protect wildlife habitat and indigenous communities' ways of life. "This plan is about creating more jobs for Americans, reducing our dependence on foreign oil and tapping into the immense energy resources the National Petroleum Reserve was created to deliver," Adam Suess, the Interior Department's acting assistant secretary for land and minerals management, said in a statement. The NPR-A was designated for oil and gas exploration in the 1970s to address energy shortages. The Biden administration in 2022 imposed restrictions on fossil fuel leasing and development in Alaska as part of its climate change agenda, but left about half of the reserve open to leasing. The draft plan would allow oil and gas leasing across 82% of the reserve's 23 million acres. It would allow leasing at Teshekpuk Lake, an area prized for wildlife that has been protected under rules dating back to the Reagan administration. The public has 14 days to submit comments on the draft to the Interior Department's U.S. Bureau of Land Management.
Auto Blog
5 days ago
- Automotive
- Auto Blog
Nissan Launches Killer Frontier Lease Deal for June
The 2025 Nissan Frontier comes with updating styling, new tech, and impressive towing capability. Best of all, Nissan is offering a solid lease deal for June. Midsize trucks bring stiff competition The midsize truck segment has become increasingly crowded over the past decade, with several models making a return. The Nissan Frontier has maintained a consistent presence over the years, launching its third generation in 2022. The segment has grown fiercer, with many consumers turning to midsize trucks over full-size options due to rising prices. Nissan has responded by offering a pretty slick lease deal on a new Frontier. Depending on where you live, you could lease a new Nissan Frontier for as little as $359 per month. This specific lease deal spans 39 months and requires a $4,609 down payment. 2025 Ford Maverick: 4 reasons to love it, 2 reasons to think twice Watch More 2025 Nissan Frontier — Source: Nissan Refreshed Nissan Frontier offers more flexibility The Nissan Frontier arrives with updated styling and amenities for the 2025 model year. The midsize pickup boasts an updated front end, and a six-foot long bed model is now available at all trim levels, except for the base S. In terms of tech, a new 12.3-inch touchscreen display joins the list of options, and includes wireless Apple CarPlay and Android Auto integration. The pickup also sees its maximum towing capacity increased to 7,150 lbs when properly equipped. Nissan also added some new safety tech, including adaptive cruise control and lane-departure warning. 2025 Nissan Frontier — Source: Nissan The 2025 Nissan Frontier comes in five trim levels, one of which is the dedicated off-road PRO-4X. While the base trim comes with an impressive list of standard amenities, stepping up to the SV trim nets the best value. Coincidentally, the SV trim is the model that's also subject to some of the best June lease deals. The Frontier SV is available in two- and four-wheel drive configurations, features 17-inch wheels, and starts at $35,790 with a crew cab body style. Under the hood lies a 3.8-liter V6 engine mated to a nine-speed automatic transmission, delivering 310 horsepower and 281 lb-ft of torque. When equipped with rear-wheel drive, the Frontier is rated for 21 mpg in combined city/highway driving. 2025 Nissan Frontier — Source: Nissan Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Inside, the Frontier SV features a seven-inch digital information display and a 12.3-inch touchscreen display, complete with wireless Apple CarPlay and Android Auto compatibility. Soft-touch materials and cloth seating come standard, but you can upgrade to leather upholstery, along with heated front seats and steering wheel, with the SV Convenience package. Nissan Frontier lease offers for June 2025 There's a handful of Nissan Frontier lease offers available throughout the country, but most of them are solid deals. New York City seems to get the best deal for an SV crew cab with four-wheel drive, $359 per month, and $4,609 due at signing. Detroit is close behind, with a $379 monthly payment and $4,619 for that same model. The Chicago area can get into the same SV model for $399 per month when paired with a $4,559 down payment. 2025 Nissan Frontier — Source: Nissan Los Angeles and Miami residents can get behind the wheel of a two-wheel drive Frontier SV crew cab for as little as $379 per month, with $4,129 due at signing. Seattle, Denver, Austin, and Charlotte share a similar lease deal: $399 per month with a $4,409 down payment. All lease offers are for a 39-month term with a 10,000-mile annual allowance. These particular lease deals run through June 30th, so don't dawdle if you want to park a new Frontier in your driveway! 2025 Nissan Frontier — Source: Nissan Final thoughts The midsize truck segment might be more competitive than in the past, but the 2025 Nissan Frontier is still a solid offering. With upscale tech, including wireless smartphone integration, and a towing capacity topping 7,000 lbs., the Frontier can compete with the best. As full-size trucks become pricier, more consumers are moving toward midsize models, and Nissan is positioning itself strategically with this June lease deal. If you want a new Nissan Frontier, make sure to act before June 30th! 2025 Nissan Frontier — Source: Nissan Lease offers may vary according to location, vehicle configuration, and are subject to credit approval. Advertised monthly payments don't necessarily include taxes, title, registration, or other fees. You can get all the details regarding this 2025 Nissan Frontier lease offer by visiting the official Nissan website and entering your zip code. *Disclaimer: This article is provided for informational purposes only. The information presented herein is based on manufacturer-provided lease offer information, which is subject to frequent change and may vary based on location, creditworthiness, and other factors. We are not a party to any lease agreements and assume no liability for the terms, conditions, availability, or accuracy of any lease offers mentioned. All terms, including but not limited to pricing, mileage allowances, and residual values, require direct verification with an authorized local OEM dealership. This article does not constitute financial advice or an endorsement of any particular lease or vehicle. About the Author Joseph Pudlewski View Profile
Khaleej Times
5 days ago
- Business
- Khaleej Times
Branded projects enter Dubai's commercial realty space
Dubai's commercial market space has grown in pace with the emirate's booming residential market, as businesses from around the world rush in to take advantage of the emirate's business-friendly policies. Chestertons Mena's Q1 2025 Market Report shows a 50.4% year-on-year increase in commercial leasing, underscoring the powerful convergence of market demand, investor confidence, and regulatory readiness. Office leasing led the commercial sector, recording over 101,000 transactions — a 62.7% increase compared to Q1 2024 — while retail leasing saw 36,000 transactions, amounting to Dh3.4 billion. Land leasing also posted steady gains. The data points to robust corporate expansion, growing business formation, and sustained appetite for commercial space across key UAE zones. The UAE's commercial real estate sector projected to exceed Dh207 billion by 2030. In a strategic move to address Dubai's growing demand for premium commercial spaces, Prospect, in partnership with Mulk Properties, recently launched The LX – a Dh350 million boutique office and retail development in Arjan. The launch comes at a time when Dubai's commercial market is seeing a paradigm shift — away from generic office towers toward purpose-built, design-led spaces that prioritize community integration, functionality, and long-term investment value. Arjan, as a well-connected and increasingly sought-after destination, ticks all these boxes, making it the ideal location for Prospect's newest venture. Set for handover in Q3 2027, The LX features 71 premium boutique office units and two curated retail spaces, offering modern businesses and discerning investors a rare opportunity to own commercial assets in a location experiencing unprecedented growth. With demand for flexible, high-specification office spaces at an all-time high in Dubai, The LX is positioned to fill a significant gap in Dubai's evolving commercial real estate sector. Mulk Properties, known globally for projects like Zim Cyber City and the Ajman Sports Complex, brings international development expertise and long-term vision to the partnership. 'The LX marks our strategic entry into Dubai's commercial property segment, and we've done so with intention and insight,' said Nawab Shaji Ul Mulk, Chairman of Mulk International. 'Our focus has always been on high-impact, future-proof developments. With Arjan's explosive growth and limited premium office supply, The LX provides the kind of asset that can define the district. Together with Prospect and OBG, we're setting a new benchmark for what boutique commercial development in Dubai should look like.' 'The LX is a targeted solution to an urgent market demand,' said Rajat Verma, Co-founder of Prospect. 'Our goal has always been to develop where demand is real and rising. As Dubai grows, so does the need for smart, well-located business infrastructure. Arjan is on the cusp of a commercial renaissance, and The LX will be at the forefront of that transformation. This project exemplifies Prospect's vision of delivering high-return assets in high-potential areas.' The LX is already drawing strong interest from investors, SMEs and entrepreneurs. 'We're witnessing a major shift in how commercial real estate is being utilized in Dubai. Businesses want flexibility, quality, and connectivity. Arjan offers all three, and The LX delivers on them at a premium standard. We're proud to represent a development that understands what the market truly needs,' said Umar Bin Farooq, Founder & CEO of One Broker Group. With direct access to major highways, Al Barsha South, Jumeirah Village Circle, and Dubai Science Park, Arjan is one of the few remaining zones offering centrality without congestion. With thousands of new residential units being delivered, the demand for adjacent commercial infrastructure is rising sharply. The LX directly supports this growth by offering a professionally designed, investor-grade asset that balances prestige with practicality.
South China Morning Post
13-06-2025
- Business
- South China Morning Post
Henderson Land signs Jane Street as anchor tenant in Hong Kong harbourfront project
Henderson Land Development, one of Hong Kong's largest developers, has leased a 223,437 sq ft space in its prized mixed-use project in Central to Jane Street Asia in one of the largest leasing transactions in the city's main business district in decades. The rent for the space, across six floors in New Central Harbourfront, will be HK$137 (US$17.45) per square foot per month, or HK$30.6 million per month, excluding fees. The transaction, which makes the quant trading firm the anchor tenant of the development, is equivalent to 70 per cent of the office and ancillary portion of the first phase of the project. 'We are proud to welcome Jane Street to our New Central Harbourfront flagship development project,' said Martin Lee Ka-shing, chairman of Henderson Land. The anchor tenancy 'reinforces Hong Kong's unrivalled position as an international financial powerhouse', he said. The first phase of the project is under construction, and the premises will be handed over to Jane Street in 2027. The trading firm will lease the space for five years starting in 2028 and will have an option to renew for a further term of four years at the prevailing market rent. The deal is a bright spot for a downtrodden Hong Kong office property segment beleaguered by sluggish demand and surging new supply.
