Welcome to Leasing Life’s first
supplement on the German leasing market. As Germany now has the
largest leasing sector in Europe, and a number of its lessors have
a substantial presence across the globe, from North America to
China, it is a market of ever increasing interest to the world’s
asset finance community.
It is also a market that, while faced with
major challenges largely caused by the deterioration of its export
markets, still has a positive future. China and some parts of
Central Europe, particularly Poland and the Czech Republic, are
expected to remain good customers of German leasing, thanks largely
to the ongoing relative success of their manufacturing sectors.
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Success for German lessors will not just be
about choosing the right geographies, and the right customers,
however. They will also have to be far choosier about which assets
they finance. The leasing of IT equipment and cars, for instance,
are far less likely to bring rewards than the financing of
machinery.
Nonetheless, the next three years will be a
testing time for German lessors. Most predict new business volumes
will be fairly flat during this period, and for most expansion to
new territories is not on the cards.
Also, for those large players with sizeable
international practices, deciding whether or not to stay in
particularly poor performing countries, such as Spain and Ireland,
will prove critical in determining how profitable they will be in
the future.
It is also an exciting time for German
lessors, as is shown in our lead article opposite about record
levels of consolidation that are expected to take place in German
financial services.
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