Private leasing accounts for nearly one in every ten new cars and as many as one fifth of low-emission cars
Car sales are still sluggish, but private leasing has lowered the bar for trying out electric cars and plug-in hybrids. As many as one in five low-emission cars purchased by consumer customers is financed through leasing. In addition to being climate-friendly, new cars are also safer on the road.
Sales of new cars have been sluggish in Finland for several years, and the first months of 2025 were no exception. According to the Finnish Information Centre of Automobile Sector, the number of first-time car registrations* from January to May 2025 was down 8% from the same period last year.
Sales of used cars through dealerships have also been slow in the first months of 2025: the number of used passenger cars sold was down by about 2% from the same period last year. When car sales between private individuals are included in the figures, sales increased by about 6%, according to statistics by the Finnish Information Centre of Automobile Sector.
"Car sales are expected to pick up over the course of 2025 but so far, buyers still appear to be cautious owing to the difficult economic situation. Consumers are also increasingly conscious of the vehicle fuel type, such as fully electric and internal combustion engine cars, and do not want to rush into a major purchase decision," says Jari Jaulimo, Head of Transaction Banking at OP Corporate Bank.
Popularity of private leasing on the rise – lowers the threshold for buying a low-emission car
More and more people in Finland are choosing low-emission vehicles. Low-emission vehicles refer to cars that emit less than 50 g/km in CO2 emissions according to the Worldwide Harmonised Light Vehicles Test Procedure (WLTP). From January to May 2025, the share of electric cars and plug-in hybrids was as much as 56% of all first-time registrations.
Low-emission vehicles also account for one third of all passenger cars financed by OP in Finland this year. OP is the market leader in car financing in Finland. At the end of May 2025, OP provided financing for 28% of all passenger cars purchased through financing in Finland.
"The popularity of electric and plug-in hybrid cars in Finland is growing. This is a positive thing as in addition to having lower emissions, new cars are also safer on the road," Jaulimo says.
According to Pohjola Insurance's statistics, nearly one in ten collisions involving cars between 2005 and 2010 with driving speeds of more than 60 km/h resulted in personal injuries. Just five per cent of collisions involving cars manufactured in or after 2021 have resulted in personal injuries, despite the fact that newer cars are driven more.
According to OP's statistics, the share of private leasing of purchases of new cars by consumers has more than doubled between January and May compared to last year and now accounts for about 9% of all new cars purchased. The biggest increase has been in low-emission cars purchased by consumers, with about one in every five financed through private leasing.
Statistics by the Finnish Information Centre of Automobile Sector also show that the share of fully electric vehicles among company cars has grown steadily in recent years. In company cars, fully electric cars overtook plug-in hybrids in popularity as early as in 2023.
"Modern consumers want carefree and predictable options. Leasing offers the opportunity to try out electric cars without concerns over decrease in value. Shifts in consumer behaviour and the transition from ownership to usage have also increased the attractiveness of leasing," Jaulimo says.
*A first-time registration refers to a new car that is registered in the Finnish Vehicular and Driver Data Register for the first time.
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OP Financial Group Corporate Communications, tel. 010 252 8719, viestinta@op.fi