A preliminary survey of the European leasing market in 2010 by Leaseurope – the trade association representing the automotive rental industry – has shown that new leasing has increased on the continent by 4.9%, raising the total new volume of leased amounts to €227 billion. This is an increase from €209 billion in 2009.
Such strong improvements indicate lessors in Europe have taken positive strides in 2011, and seemed to have recovered from the previously experienced steep decline in new volume.
New leasing was seen across the board, however the highest ratings were seen in real estate, where a 12.3% increase was seen over 2009. Also, the leasing of vehicles was increased by 5.9%, while equipment leasing was raised by 2.1%.
Growth in equipment leasing was very strong in the UK, but marginally negative in France and Italy. Several countries in Central and Eastern Europe (CEE) suffered from significant declines in equipment, vehicles and real estate volumes. However, the Polish market increased substantially, driving overall growth in the CEE region.
European lessors are now performing strongly, having weathered exceptionally difficult market conditions,” said Leaseurope’s Chairman Jukka Salonen (CEO, Nordea Finance). “A lot has been learnt during the crisis and the recovery in volumes is very welcome news. Our industry must also continue to focus on delivering sustainable, added-value solutions to clients. We have an important role to play in contributing to the ongoing economic recovery across Europe by financing significant investment in the assets European firms need to be able to grow again. With many businesses having deferred capital expenditure, our industry can help them improve their competitiveness by upgrading to the latest and most efficient assets.
