Accelerating the future of leasing – is your company ready for the challenge?

The recent global events, which brought along high inflation and interest rates, have had a significant impact on various industries, including automotive and leasing. While these economic shocks have been challenging for companies within these industries, the truth is that the car leasing businesses were already facing disruptions due to changes in consumer preferences, as well as in the technological and regulatory playfield. The latest global developments have only accelerated their need for change: to remain relevant, leasing companies must embark on a long-overdue transformation journey.

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Two large trends have been shifting the business for the past decade: from one side, consumers pay more attention to their environmental footprint, which has made them more considerate in terms of their consumptions, and on the other side car leasing costs have raised, pushing the more saving-oriented clients towards other options. The interconnection between these trends has resulted in a shift towards traditional players in the mobility market, such as public transport and taxi services, as well as new players such as car-sharing, car-pooling, and micromobility services.

However, leasing companies can still flourish in this challenging market. What is happening is similar to what banks faced around ten years ago: at that time, traditional banks were threatened by the rise of fintech players and the need to modernize old IT architecture. Today, traditional banks are still relevant, but only because they underwent massive transformations to modernize their architecture and compete with more flexible fintech offerings.

If leasing companies recognize the urgent need for change demanded by the market, they can equip themselves to navigate the complex journey ahead.

How can PwC help you?

Our latest publication covers the current state of the industry and the major trends that threaten its health. We understand that large leasing companies must take a holistic approach to tackle these challenges. Therefore, we will present some concrete actions that can be taken around key dimensions of the business.