The first edition of “social leasing” consisted of a promotional operation of strictly limited duration. A sort of “happy hour” which will have made it possible – for six weeks in total – to offer French people who cannot afford them the opportunity to drive an electric car for a monthly rent of between 100 and 150 euros.
Monday, February 12, the government announced the sine die closure of this offer, resulting from a commitment made by the President of the Republic during his 2022 electoral campaign. This stopping of “Macron cars” was dictated by the risks of budgetary drift linked to this quasi-experimental system – without equivalent in France or abroad – of long-term rental intended for households whose reference tax income per unit is less than 15,400 euros per year.
The beneficiaries were workers residing at least 15 kilometers from their place of work or forced to travel more than 8,000 kilometers per year for professional reasons. Thanks to the payment by the State of a superbonus of 13,000 euros, it was possible to drive for three years behind the wheel of a compact model (Peugeot e208, for example) for 100 euros per month or a family car (Renault Mégane E-Tech electric) for 150 euros, maintenance and insurance not included. A rent halved compared to market prices for a classic rental with option to purchase (LOA).
Very favorable access conditions
“With this first wave, we achieved our objectives and even exceeded all our expectations,” considers the Presidency of the Republic, which ensures that half of the 100,000 vehicles normally purchased this year by French people eligible for leasing will be electric and welcomes “an emblematic success of French ecology”. A success which went against the efforts made by Bercy to slow down the progression of public finances.
The operation, which was in principle to be limited to around 20,000 vehicles given the lack of sufficiently cheap electric models, recorded around 50,000 contracts in a few weeks. This influx can be explained by the very favorable conditions of access to social leasing.
The tidal wave was also fueled by the unexpected scale of the number of files collected by manufacturers who sometimes spectacularly slashed the prices of their models. The context of the trade war on the electric car market – but also their desire to register without delay in a potentially limited-term leasing system – encouraged them to make as many of their vehicles accessible to this system.
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