Automotive Frost Radar™: Electric Vehicle Leasing in North America, 2022

A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines

INDUSTRY
Automotive

RELEASE DATE
22-Dec-2022
REGION
North America
DELIVERABLE TYPE
Frost Radar

RESEARCH CODE
K85A-01-00-00-00
SKU
AU02459-NA-MR_27189
Yes
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Frost Radar™: Electric Vehicle Leasing in North America, 2022
Published on: 22-Dec-2022 | SKU: AU02459-NA-MR_27189

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In 2021, the electric vehicle (EV) penetration rate in North America was low, at less than 4%, but several geopolitical factors are sending the trend on an upwards trajectory. For example, a ban on Russian oil by the United States and Canada after the start of the Russo-Ukrainian War has caused oil prices to soar in many places. As a result, the volume of people opting for EVs over their fossil fuel-powered counterparts is on the rise.

Also, as environmental regulations become more stringent, corporates have begun to rethink their mobility policies to both reduce their carbon footprint and optimize costs. However, they are not largely willing to risk the disadvantages of owning EVs, such as high depreciation and the fast-paced advancement of technology, which causes a relatively new vehicle to appear redundant in no time.

Whether for corporates or individuals, everyone wants a smooth and effective transition to EVs. This is where leasing companies offer the ideal solution. Although just a few major players dominate the North American EV leasing market, competition is intensifying with the entry of agile start-ups and emerging car subscription companies. Frost & Sullivan finds that notable players in this segment are addressing both customer needs and challenges, which include EV charging, aftermarket support, and affordable pricing.

In a field of more than 50 North American EV leasing industry participants, Frost & Sullivan independently plotted the top 10 companies in this Frost Radar™ analysis. They are ARI Fleet, Element Fleet Management, Enterprise Fleet Management, Wheels Donlen, Tesla, Zevvy, Octopus Electric Vehicles, Foss National Leasing, Somerville Auto, and Union Leasing. While more than a dozen smaller companies either are exploring the market or have recently entered it, Frost & Sullivan has identified these 10 as the market powerhouses.

The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.

Author: Amrish Nagarajan

Strategic Imperative

Growth Environment

Frost Radar™: Electric Vehicle Leasing Market in North America

Frost Radar™: Competitive Environment

Frost Radar™: Competitive Environment (continued)

ARI Fleet

Element Fleet Management

Enterprise Fleet Management

Foss National Leasing

Octopus Electric Vehicles

Somerville Auto

Tesla

Union Leasing

Wheels Donlen

Zevvy

Strategic Insights

Significance of Being on the Frost Radar™

Frost Radar™ Empowers the CEO’s Growth Team

Frost Radar™ Empowers Investors

Frost Radar™ Empowers Customers

Frost Radar™ Empowers the Board of Directors

Frost Radar™: Benchmarking Future Growth Potential

Frost Radar™: Benchmarking Future Growth Potential

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Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform

Growth Index

Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.

  • Market Share (previous 3 years)
    This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years.
  • Revenue Growth (previous 3 years)
    This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™.
  • Growth Pipeline
    This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities.
  • Vision and Strategy
    This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision?
  • Sales and Marketing
    This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.

Innovation Index

Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.

  • INNOVATION SCALABILITY
    This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals.
  • RESEARCH AND DEVELOPMENT
    This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline.
  • PRODUCT PORTFOLIO
    This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue.
  • MEGATRENDS LEVERAGE
    This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline.
  • CUSTOMER ALIGNMENT
    This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.

Significance of Being on the Frost Radar™

Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.

  • GROWTH POTENTIAL
    Your organization has significant future growth potential, which makes it a Company to Action.
  • BEST PRACTICES
    Your organization is well positioned to shape Growth Pipeline™ best practices in your industry.
  • COMPETITIVE INTENSITY
    Your organization is one of the key drivers of competitive intensity in the growth environment.
  • CUSTOMER VALUE
    Your organization has demonstrated the ability to significantly enhance its customer value proposition.
  • PARTNER POTENTIAL
    Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.

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In 2021, the electric vehicle (EV) penetration rate in North America was low, at less than 4%, but several geopolitical factors are sending the trend on an upwards trajectory. For example, a ban on Russian oil by the United States and Canada after the start of the Russo-Ukrainian War has caused oil prices to soar in many places. As a result, the volume of people opting for EVs over their fossil fuel-powered counterparts is on the rise. Also, as environmental regulations become more stringent, corporates have begun to rethink their mobility policies to both reduce their carbon footprint and optimize costs. However, they are not largely willing to risk the disadvantages of owning EVs, such as high depreciation and the fast-paced advancement of technology, which causes a relatively new vehicle to appear redundant in no time. Whether for corporates or individuals, everyone wants a smooth and effective transition to EVs. This is where leasing companies offer the ideal solution. Although just a few major players dominate the North American EV leasing market, competition is intensifying with the entry of agile start-ups and emerging car subscription companies. Frost & Sullivan finds that notable players in this segment are addressing both customer needs and challenges, which include EV charging, aftermarket support, and affordable pricing. In a field of more than 50 North American EV leasing industry participants, Frost & Sullivan independently plotted the top 10 companies in this Frost Radar™ analysis. They are ARI Fleet, Element Fleet Management, Enterprise Fleet Management, Wheels Donlen, Tesla, Zevvy, Octopus Electric Vehicles, Foss National Leasing, Somerville Auto, and Union Leasing. While more than a dozen smaller companies either are exploring the market or have recently entered it, Frost & Sullivan has identified these 10 as the market powerhouses. The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients. Author: Amrish Nagarajan
More Information
Deliverable Type Frost Radar
Author Amrish Nagarajan
Industries Automotive
No Index No
Is Prebook No
Keyword 1 Electric Vehicle Leasing Market
Keyword 2 North American EV Leasing Market
Keyword 3 North American EV leasing industry
Podcast No
WIP Number K85A-01-00-00-00

Frost Radar™: Electric Vehicle Leasing in North America, 2022

$4,950.00

Special Price $3,712.50 save 25 %

In stock
SKU
AU02459-NA-MR_27189