Britain’s and Germany’s leasing markets were still Europe’s largest leasing markets in H1 2009, but lost significant business volume, Leaseurope statistics have shown.
According to Europe’s umbrella association for the leasing industry, Germany’s new leasing volumes were €19.65 billion in the first half of 2009, a 23 percent fall on 2008 figures.
The UK leasing market was second in terms of total volumes – closely following Germany with €19.63 billion taking exchange rates into account – but dropped almost 30 percent in absolute terms.
The Italian and French markets totalled €13.88 and €13 billion, dropping by 40 and 25 percent respectively.
In most Eastern European countries the drops were between 60 and 80 percent, although the Polish Leasing Association recorded a more contained drop of 38 percent.
Total business volumes recorded in the period across Europe were €105.35 billion, which is a 36 percent drop compared to the first six months of 2008.