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States in the Northeast had the highest penetration of leases in 2014. New Jersey, New York, and Michigan led the states, each with leases accounting for about 47 percent of all new light vehicle transactions. These top three states were followed by Rhode Island, Connecticut, Massachusetts, and Ohio, all with leasing rates over 30%. In general, the southern states in the mid-section of the U.S. had the lowest percentages of lease transactions with Oklahoma the lowest at just 1%.

Leasing Penetration by State, 2014

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Fact #886 Dataset

Supporting Information

New Light-Vehicle Leasing Penetration for 2014
StatePercent
Alabama8.7%
Alaska3.6%
Arizona11.7%
Arkansas2.3%
California28.6%
Colorado18.7%
Connecticut37.1%
Delaware17.6%
District of Columbia12.6%
Florida26.0%
Georgia11.1%
Hawaii12.5%
Idaho13.6%
Illinois14.5%
Indiana23.1%
Iowa14.6%
Kansas11.3%
Kentucky15.5%
Louisiana9.6%
Maine24.3%
Maryland11.5%
Massachusetts31.5%
Michigan47.5%
Minnesota23.4%
Mississippi6.6%
Missouri10.1%
Montana13.2%
Nebraska22.1%
Nevada18.9%
New Hampshire28.2%
New Jersey47.6%
New Mexico6.0%
New York46.7%
North Carolina13.6%
North Dakota17.5%
Ohio32.8%
Oklahoma1.0%
Oregon12.4%
Pennsylvania27.1%
Rhode Island40.2%
South Carolina10.9%
South Dakota20.9%
Tennessee8.2%
Texas9.3%
Utah18.2%
Vermont31.9%
Virginia10.6%
Washington16.1%
West Virginia7.2%
Wisconsin22.1%
Wyoming7.7%
Source: Automotive News, "How high can leasing go?", June 8, 2015, Jim Henry, Site accessed July 7, 2015. Website

 

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