NAICS Code 532111-05 - Automobile Leasing

Marketing Level - NAICS 8-Digit

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NAICS CODE 532111-05
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NAICS Code 532111-05 Description (8-Digit)

Automobile leasing is a business activity that involves renting out vehicles for a long-term period, typically for a year or more. Unlike car rental services, automobile leasing provides customers with the option to use a vehicle for an extended period without having to purchase it outright. The lessee pays a monthly fee to the lessor for the use of the vehicle, which includes maintenance and insurance costs. Automobile leasing is a popular option for individuals and businesses who want to use a vehicle for an extended period without the financial commitment of purchasing one.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 532111 page

Tools

Tools commonly used in the Automobile Leasing industry for day-to-day tasks and operations.

  • Lease agreement software
  • Vehicle tracking software
  • Customer relationship management (CRM) software
  • Accounting software
  • Insurance management software
  • Maintenance scheduling software
  • Fleet management software
  • Online payment processing software
  • Vehicle valuation tools
  • Credit scoring software

Industry Examples of Automobile Leasing

Common products and services typical of NAICS Code 532111-05, illustrating the main business activities and contributions to the market.

  • Personal car leasing
  • Business car leasing
  • Luxury car leasing
  • Electric car leasing
  • Commercial vehicle leasing
  • Fleet vehicle leasing
  • Short-term car leasing
  • Long-term car leasing
  • Lease-to-own car leasing
  • Used car leasing

History

A concise historical narrative of NAICS Code 532111-05 covering global milestones and recent developments within the United States.

  • The automobile leasing industry has a long history dating back to the early 20th century when leasing was primarily used by businesses to acquire vehicles for their fleets. In the 1950s, automobile leasing became more popular among individuals, and by the 1970s, leasing had become a significant part of the automobile industry. In recent years, the industry has seen notable advancements in technology, such as the development of online platforms that allow customers to lease vehicles entirely online. In the United States, the industry has also seen a shift towards electric and hybrid vehicles, with many leasing companies offering these options to customers.