Chinese Brands Make Up 1% of Car Leasing

Chinese car manufacturers have a limited presence in Spain's car leasing sector, although their growth is steady and consistent. According to the report "Impact of Chinese Vehicles on Car Leasing in Spain" by Ayvens España, Chinese-origin vehicles account for only 0.75% of the total market. In 2024, the 26 Chinese brands present in the country registered 2,522 leases, compared to the 336,140 total vehicles leased in the sector.

This figure contrasts with the rapid expansion of these brands in the private market, where their offerings have been more warmly received, particularly due to pricing. The initial strategy of Chinese manufacturers has focused on attracting end customers with technologically competitive and significantly cheaper vehicles than their European counterparts, facilitating their penetration into the private channel.

However, in the leasing sector, their entry is more gradual, influenced by key factors such as after-sales network and nationwide service coverage, areas where these brands are still strengthening their infrastructure.

The Ayvens report highlights that since 2021, their fleet of electrified Chinese vehicles has grown exponentially. In just one year, between 2021 and 2022, the fleet increased eightfold; in 2023, it nearly doubled, and by the end of 2024, the figures tripled again compared to the previous year. Despite this internal expansion, their market share remains minimal at the sector level.

Within Ayvens' fleet, plug-in hybrids clearly dominate, accounting for 94.3% of the total. Pure electric vehicles make up 4.3%, and conventional hybrids barely 1.3%. The use of traditional fuels is almost negligible: petrol vehicles represent 0.27% of the fleet. This composition demonstrates the clear orientation of Chinese brands towards electrification, a competitive advantage over other manufacturers who have yet to complete this transition.

Regarding vehicle type, 97.8% are SUVs, reflecting a strong commitment to this silhouette, which is experiencing the highest growth in European demand. Sedans represent a marginal 1.9%, while light commercial vehicles and vans barely reach 0.1% each. By customer profile, small and medium-sized enterprises account for 54.2% of the Chinese vehicle fleet, followed by individuals (41.7%) and large companies (4%).

The study also examines the structural factors explaining the competitiveness of Chinese vehicles. The main factor is price: Chinese models can cost between 30% and 50% less than their European equivalents, thanks to the production scale achieved in their domestic market—the largest in the world—technological dominance in electrification, and state support for internationalisation by the Chinese government.

This cost advantage is complemented by the increasing quality of the products. According to the report, all Chinese models evaluated by EuroNCAP in 2023 and 2024 received the highest five-star rating, reinforcing the perception of safety and reliability among European consumers.

Moreover, Chinese brands hold a technological edge in developing electric propulsion systems and batteries. China leads global production of both electric vehicles and accumulators and has developed advanced proposals in connectivity, autonomous driving, and energy efficiency. These capabilities make their manufacturers increasingly competitive players in the European ecosystem.

The report concludes that while the 0.75% share is still modest, the outlook is optimistic. Major international leasing operators are already signing agreements with Chinese manufacturers to incorporate their vehicles, especially in the premium segment. In this context, a gradual but firm expansion in the Spanish market is anticipated.