New leasing volumes across Europe dropped
almost one third in 2009, preliminary figures from Leaseurope have
shown.
The trade association for the European leasing
industry said that new production reached around €216 billion last
year, 28.4 percent down compared with 2008.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
This is the sharpest fall since Leaseurope
began collecting data in 1994.
According to Piero Biagi, chair of
Leaseurope’s statistics and marketing committee, “in terms of new
production, we have returned to the level of business that was
granted in Europe 7 or 8 years ago”.
The association recorded a better trend during
the second half of the year, with volumes up by 5 percent compared
with the first half of the year.
By assets, the worst affected sector was
equipment, which was over 35 percent down. Vehicle leasing was 24
percent down, Leaseurope said.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataBy regions, the CEE and Mediterranean
countries were the worst hit, with volumes down by an average 44
percent.
Leaseurope chairman Rüdiger von Fölkersamb
said that investment levels across Europe are expected to be
“somewhat less negative in 2010”.
But he warned: “Stimulating demand from
businesses to increase capital expenditure is vital if the European
economy is to experience more than a tentative recovery in 2010 and
will be necessary if leasing is to continue to fulfill its
investment enabling role.”
Antonio Fabrizio
