SOURCE: LeaseTrader.com

LeaseTrader.com

April 14, 2011 15:00 ET

Demand for Diesel Vehicle Leases Rises on LeaseTrader.com

Thirst for Fuel Efficiency Could Make Diesel a Mainstream Competitor to Hybrid Technology

MIAMI, FL--(Marketwire - Apr 14, 2011) - With gas prices approaching $4 a gallon in many states, drivers are inquiring about fuel-efficient options that go beyond hybrid vehicles and public transportation. More so than in 2008, drivers are ready to get behind the wheel of diesel vehicle leases, which in some cases are more costly but also offer more miles per gallon. Popular car leasing website LeaseTrader.com says search demand and lease takeovers are up for several diesel models compared with activity from 2008.

The Mercedes E350 Bluetec has the highest demand among diesel vehicles on LeaseTrader.com, with search demand up 6.4 percent compared with January. Search demand has also increased for diesel vehicle models from BMW, Audi and Volkswagen since January. For domestic vehicles, Chevy and Ford diesel truck searches have increased in the same time period.

Brand/Model% Search Increase since Jan. 2011
Mercedes E350 Bluetec+6.4%
Mercedes ML350 Bluetec+4.7%
Mercedes GL350 Bluetec+4.2%
BMW X5 Diesel+5.8%
BMW 335d+5.4%
Audi A3 TDI+6.3%
Audi Q7 TDI+5.2%
Volkswagen Jetta TDI+6.1%
Chevy Silverado Diesel+2.8%
Ford Super Duty Diesel+2.5%

"The diesel cars of today are clearly not your father's diesel," said Sergio Stiberman, CEO and founder of LeaseTrader.com. "More people today are searching for diesels because of the improved mileage they can get and they're offered in vehicle styles they know and love. Diesel residuals are very strong right now which means deals are getting better."

Popular in Europe and gaining ground in the U.S., diesel has cleaned up its act over the years and is a cleaner-burning fuel today compared to vehicles in 1980s. What's more, diesel engines are known for getting extra mileage out of every gallon of fuel compared with gasoline engines, making it a viable alternative despite its higher per-gallon cost. According to analysis by The Diesel Driver website, sales of diesel automobiles doubled in 2010.

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