The Romanian leasing market is likely to have dropped by over 50
percent in the first quarter of 2009.
Bas Hoekstra, vice chairman of the country’s leasing
association, told Leasing Life that although overall
figures for the first three months are not available yet, he
expects the market to have at least halved in the January-March
period.
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“The industry performed very badly in the last quarter” he
said.
“Cars are not being sold at the moment, so there is a huge drop
in volumes in that sector of leasing”.
Hoekstra said that real estate and equipment leasing were also
significantly hit.
He said: “Real estate is suffering badly because banks and
leasing companies don’t lend as easily as they did before, and
secondly equity providers are no longer willing to invest in
projects, they are investing elsewhere or not investing at
all.”
He added that construction equipment and commercial vehicles
were down partly because the government was not investing
enough in building new roads and infrastructures.
This, he said, has reduced the business of construction
companies, many of whom are customers of leasing
companies.
