European leasing business grew 7.3% in 2011
and outstripped total equipment investment growth in the EU
countries.
A preliminary report from Leaseurope showed
the total value of new business for the leasing trade body’s 26
member countries was €222bn compared to €208bn in 2010.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
New leasing business for vehicles experienced
particularly strong growth, increasing 11.7% on 2010 volumes.
While there was good performance in the
European market overall, the survey did show divergences across
regions.
The CEE countries experienced very high growth
rates, particularly in equipment leasing, and especially strong
performance was seen in the Russian market.
With the exception of Italy, the Mediterranean
countries suffered declines in new leasing business across all
categories. Italy performed better, particularly in vehicle
leasing, but also experienced slight decreases in new equipment and
real estate business.
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 GlobalDataWhen omitting the business volumes of Norway,
Russia and Ukraine and considering only the EU countries taking
part in the survey, the growth in leasing business volumes was 6.1%
compared to 5.6% growth in total equipment investment for these
countries in 2011.
Jukka Salonen, Leaseurope’s Chairman and chief
executive of Nordea Finance, said: “It is very encouraging to see
that the industry has continued its recovery into 2011and improved
on the growth figures of 2010. During very uncertain and trying
times, the industry has shown its robustness and continues to rise
to the challenges the current European economic climate
presents.”
Leaseurope will publish comprehensive figures
for 2011 once its full annual survey of member associations is
complete in the spring.
Grant.collinson@vrlfinancialnews.com
