Analysis of how the automotive sector can move towards a more sustainable economy with the leasing business model. What are the underlying opportunities and challenges of this transition?
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- In an era of environmental crisis, the automotive sector is at the heart of many discussions. The traditional product selling model is known to be inefficient in terms of sustainability. Therefore, other business models such as Car sharing, Ride sharing, and leasing came into play. Thanks to the development of the regulatory aspect and circular economy tools in parallel with new models, the environmental impact of this sector is tending to be reduced, but nothing is yet won. The aim of this paper is to analyze how the automotive sector can move towards a more circular economy with the leasing business model and to discuss what opportunities and challenges are involved in this transition. It was found that leasing is in a growing market and has proved to be a successful model, with strong opportunities to promote greener vehicles. However, the lack of sustainable interest of both companies and consumers, and the lack of infrastructures seem to be jeopardizing this ecological transition.