The portfolio of the Estonian leasing
arm of Nordea bank grew to almost EEK39 billion (€2.5 billion) at
year-end 2008, an increase of 32 percent year-on-year.
Meanwhile, although vehicle
registrations in Latvia fell 41 percent in 2008, SEB Lizings, the
second-largest leasing provider in Latvia after Swedbank, predicted
that the slump would soon level out.
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“2009 will be the year of
stabilisation in the market and thus also in the car leasing market
– without particularly steep falls or rises in sales,” Ints Krasts,
SEB Lizings’ managing director in Latvia, said. “We expect that
after the economic situation stabilises, the sale of new vehicles
will show a positive growth rate again.”
He added: “Since new vehicle sales
had been showing dizzying growth in Latvia in recent years, SEB
Lizings is taking the present situation as a phase when the market
is calming down.”
Meanwhile, the number of cars sold
through leasing in Lithuania this January collapsed to 318 from
last year’s 1,560, according to market research company
Autotyrimai.
Overall, January’s new car sales
fell 72 percent to just 741. The percentage of cars acquired
through leasing declined to 43 percent from 59 percent a year
ago.
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