New Chinese brand Leapmotor has seen interest in its cars surge 2,675 per cent after quickly launching its own version of the government’s Electric Car Grant (ECG).
Leapmotor grabbed headlines after it promised to match the ECG of either £1,500 or £3,750.
The firm has taken £1,500 off the price of its entry-level Leapmotor T03, and cut £3,750 from the price of its Leapmotor C10 family SUV.
This has taken current leasing prices for the Leapmotor C10 down to an incredible £125 a month.
Leasing marketplace leasing.com says customers have responded accordingly to these low prices, with the 2,675 per cent increase in leasing enquiries coming in just a four-day period.
Notably, the government has still to release details of which cars will be eligible for the ECG – despite Leapmotor buyers already now benefitting from savings.
“Leapmotor has shown how agility and value can help a new brand cut through almost overnight,” said leasing.com CEO Mike Fazal.
“It’s jumped to the top of our leasing charts thanks to a smart pricing strategy and timely positioning.”
Renault repositioning
Renault has also responded to the ECG, which will only be available on cars priced below a threshold of £37,000.
Within 48 hours of the announcement, Renault cut the price of its Scenic E-Tech to below £37k – and leasing enquiries skyrocketed 9,575 per cent in less than a week.
Fazal describes Renault’s move as a “smart and timely reaction. These are savvy, data-informed responses to what drivers want: transparency, value and minimal friction”.
He also praised the government for implementing the new Electric Car Grant. “What’s really powerful about this scheme is that it gives consumers a reason to make the switch now, not later.
“Pair that with leasing, which already offers lower upfront costs and predicable monthly payments, and you’ve got a compelling route into EV adoption that works for real budgets.
“Many drivers still assume at EVs are too expensive, but with the right grant and the right lease deal, they’re often more affordable than a traditional petrol or diesel car.”
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