Hungary’s leasing community is faced with an ever worsening
business outlook, as the Central European state struggles with an
ailing currency and soaring delinquency rates.
According to the Hungarian Leasing Association, January and
February of 2009 saw construction equipment finance down by a
crippling 82 percent compared to the same months in 2008, with the
machinery sector taking a similar 62 percent hit.
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Showing slightly more resilience, the financing of IT, office
and telecoms equipment saw only a 13 percent slump
year-on-year.
Meanwhile it is estimated that up to 40,000 leased cars and vans
may have been repossessed by lessors over the last year, as more
and more lessees fail to make pay instalments.
