Leaseurope study shows recovery in 2010 leasing market
That's the finding of a new survey by Leaseurope, which shows that overall new leasing business was up by 4.9% last year and also estimates that total new volumes will have reached €227 billion (compared to €209 billion in 2009). That's despite the fact that investment in the EU-27 grew by only 0.5% during the year.
While there was clear recovery for the European market overall, the survey shows divergences across regions and asset types. Leasing growth rates were strong across much of Western Europe and the Nordic region, with particularly strong results evident in the leasing of vehicles in Spain, Portugal and the Nordic countries. However, several countries in Central and Eastern Europe (CEE) suffered from significant declines in vehicle volumes.
Leaseurope’s chairman, Jukka Salonen (CEO, Nordea Finance), welcomed the preliminary 2010 results and commented that 'European lessors are now performing strongly, having weathered exceptionally difficult market conditions. A lot has been learnt during the crisis and the recovery in volumes is very welcome news.'
He added: '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.'