The CEE region’s most established
leasing markets took a sobering hit to business in Q4, with the
Czech, Hungarian and Slovakian industries reporting negative growth
over the year despite prosperous H1 results.
Members of the Czech Leasing and
Financing Association (CLFA) wrote €3.3 billion of business in 2008
– 27.1 percent down year-on-year. They closed a total of 120,492
Vehicle leasing dominated the
market, accounting for 70 percent of new business. Operating
leasing continued to grow with business increasing 22.3 percent
year-on-year to €770 million. Finance leasing, however, fell 28.6
percent year-on-year, to €2.65 billion.
Meanwhile, over the same period,
Hungary’s leasing market shrank by 1.5 percent to €4 billion, with
the country’s leasing association predicting a market contraction
of up to 30 percent in 2009. Only machinery and equipment leasing
was resilient in Q4, with that sector growing by 3 percent.
In Slovakia, although leasing
association members reported a 6.5 percent growth in contracts over
the year to €2.8 billion, Q4 figures were extremely bleak.
Equipment leasing for the quarter was down 25 percent year-on-year,
while truck leasing and LCV leasing posted 26 percent and 52
percent drops respectively.