Americans are leasing less than they once did. The reason? Blame the car manufacturers: TDS
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Welcome to The Downshift, or TDS for short, The Drive’s morning summary of global automotive news, featuring the most important headlines.
The Downshift condenses stories into a sentence or two and provides links for those interested in more details. Here’s what’s happening on Thursday, July 30, 2026.
🔊 The latest episode of The Drivecast, The Drive’s weekly podcast, was released yesterday on Apple Podcasts, Spotify, and other podcast platforms.
🤝 In the first half of 2026, leases made up 23% of new vehicle purchases, as reported by JD Power. This is an increase from the 17% low seen in 2022 but still falls short of the pre-pandemic average of 30%. Experts attribute this shift to less appealing lease offers, as automakers discovered they could sell at higher prices by deliberately limiting supply, along with rising interest rates. This has also driven up used car prices due to fewer vehicles returning to dealerships after leases. [Reuters]
⚖️ Mazda CEO Masahiro Moro recently discussed the philosophy behind the next-generation MX-5 Miata, stating that the ND’s successor “must also be prepared for a future without a combustion engine.” He noted the challenge is to reduce the roadster's weight to accommodate potential electrification without relying on expensive materials like carbon fiber. [Auto Motor und Sport]
🌋 The 2027 Genesis GV60 Magma, the luxury brand’s inaugural Magma performance model, will begin at $71,495, with showrooms in California, New York, and New Jersey expected to receive it in the coming weeks. The SUV shares similarities with the Hyundai Ioniq 5 N under its exterior. [Genesis]
💡 Ferrari quickly filled its quota to sell nearly 500 units of the Luce EV within two months following the model’s controversial introduction, experiencing particularly strong demand in China. [Financial Times]
🏭 Toyota's global sales fell by almost 3% during the January to June period, with a 17% decline in China compared to a stronger demand in North America and Japan. Production also decreased by 1.2% in the same timeframe, marking the first decline in Toyota's first-half sales and output in two years. [Reuters]
🔓 Mercedes-Benz is recalling over 310,000 vehicles in the U.S. across various models due to a failure to detect open doors caused by a corroded switch in the driver’s door lock. If an open door goes undetected, the automatic parking brake won’t engage, increasing the risk of the vehicle rolling away. [Reuters]
📹 Volkswagen is recalling 58,000 Atlas and Atlas Cross Sport SUVs from model years 2024 through 2026 due to faulty backup cameras that fail to show an image when the vehicle is in reverse. [Autoblog]
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Americans are leasing less than they once did. The reason? Blame the car manufacturers: TDS
The pandemic revealed to automakers and dealers what they can manage without, which has resulted in a much less appealing car leasing market.