Electric and hybrid vehicles now account for 42.5% of UK leasing demand

As uncertainty around fuel prices continues, new data from Leasing Options suggests that more motorists are now looking beyond petrol. 

Interest in electric vehicles appears to be growing as drivers seek a more resilient and cost-effective alternative to fuel-powered cars. With rising fuel costs putting pressure, alongside government incentives, like tax benefits, EVs are becoming an increasingly attractive choice for drivers looking for greater long-term value and flexibility.

Based on year-to-date data compared with the previous rolling 12 months, petrol vehicles still account for the biggest share overall, but that lead is narrowing.

Petrol made up 63.3% of the mix over the last 12 months, falling to 56.6% so far this year.

Over the last year, fully electric vehicles have grown their share from 13.7% to 21.0%, meaning EVs now account for around one in five vehicles. When plug-in hybrids, hybrids, and fully electric models are combined, electrified vehicles now represent 42.5% of the total mix, up from 34.8% across the previous 12 months.

The data also suggests that growing interest in electrified vehicles is no longer limited to younger age groups. The strongest shift away from petrol is being seen among middle-aged and older motorists, pointing to a broader mainstream change in consumer behaviour.

Among 41 to 50-year-olds, electrified vehicles now account for 50.3% of the mix this year so far, up from 39.1% based on year-to-year trends. For 51 to 60-year-olds, that figure has risen from 38.1% to 45.6%, while among those aged 61 and over it has climbed from 39.9% to 50.1%.

Mike Thompson, chief operating Officer at Leasing Options, said: “While petrol remains the biggest single fuel type overall, the gap is clearly starting to close. What is especially notable is that this is not just a trend being driven by younger motorists. We are seeing stronger interest in electric and other electrified vehicles among more mainstream age groups too, which points to a much broader shift in attitudes.

“For many drivers, hybrids and plug-in hybrids may still be acting as a stepping stone, giving motorists a lower-risk route into electrified driving while concerns around charging and range continue to ease. But the wider direction of travel is clear. Demand is moving towards electrified options, and that shift is becoming more visible across the market as these vehicles become increasingly practical, accessible, and appealing to a broader range of drivers.”