The Tesla Model 3, led by the visionary Elon Musk, is conquering the automotive market in a way that few could have predicted. In addition to monitoring your credit score, Experian tracks trends and data in the automotive industry, including the most popular leased models.
While the list is typically dominated by high-volume gasoline vehicles, such as the Ford F-150 and the Nissan Rogue, the Tesla Model 3 is on the rise, becoming the first electric vehicle to rank among the top ten leased cars in the second quarter of 2023.
In the second quarter, Model 3 leases accounted for 1.79% of all leased vehicles, which corresponds to about 25% of the total car sales, approximately 42,000 units. This jump represents a 14% increase from the previous year, placing Tesla in seventh place on the list, behind the Chevy Equinox and ahead of the Honda Civic.
The Impact of the Tesla Model 3 on the Leasing Market
Although this is a significant milestone for Tesla and electric vehicles in general, the Model 3 is still surrounded by large trucks and many SUVs on the list. The only other sedan among the top ten was the Honda Civic, while the three most leased vehicles included the Ford F-150 in first place, followed by the Honda CR-V and the Nissan Rogue.
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While Brazil was left without an affordable 7-seater Honda, Indonesia sells the 2026 BR-V with a 1.5 i-VTEC engine of 121 hp, Honda Sensing, three rows, fuel consumption above 23 km/l, and a range of 987 km; the family SUV costs less than the Spin, Aircross, and Tiggo 8 Pro when converted without taxes.
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Now NASA comes: Brazilian transforms pickups into “war tanks” in Goiânia by replacing wheels with giant tracks costing up to R$ 120,000 to tackle mud, farms, and impossible terrains.
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Another Chinese giant prepares to enter Brazil: BAIC bets on the Arcfox T1, an electric hatchback that promises to compete with the BYD Dolphin, BYD Dolphin Mini, and Geely EX2 with a larger size and a range of up to 425 km.
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Hyundai launches a 7-seater ‘Kombi’ cheaper than Chevrolet Spin, Citroën Aircross, and Tiggo 8 Pro in Brazil; for around R$ 78,500 in conversion without taxes, the Hyundai Stargazer Cartenz features a 1.5 engine, manual or IVT transmission, 205 mm ground clearance, and the SmartSense package that Brazilians don’t have yet, but Indonesia does.
The Phenomenon of Electric Vehicle Leasing
Leasing some models of electric vehicles has become popular among buyers due to loopholes in federal tax credit rules that pave the way for credits on previously ineligible vehicles. The Model 3 recently became eligible again after a rule change in early 2023 that removed the limit on units sold.
In summary, the Tesla Model 3, led by the innovator Elon Musk, is making history by standing out as one of the most leased cars in 2023. This success demonstrates the growing acceptance of electric vehicles and the opportunities that arise when regulations evolve. The future of the automotive industry is clearly heading toward an electric revolution.

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