Car leasing market grows 14 pct in Q1 to EUR 277 mln

Newsroom 18/05/2015 | 17:00

Car leasing market recorded in the first quarter a 14 percent increase against the same period last year, to EUR 277.08 million, the most dynamic being the commercial vehicle segment, especially heavy ones, said on Monday the general manager of BCR Leasing, Bogdan Speteanu, according to Mediafax.

In the first three months of last year, the car lease financing market amounted to EUR 242.17 million.

Car financing registered a 20.2 percent advance from EUR 133.08 million, having a 48 percent share of the total automobile leasing market.

The leasing of heavy commercial vehicles amounted to EUR 112.3 million, up 17.2 percent compared to the same period last year, representing 40 percent of the market.

Light commercial vehicles amounted to EUR 29.13 million, up 5 percent and accounted for 11 percent.

“We expect vehicles to continue to have the highest share, of 70-75 percent, and the heavy ones to continue having the most significant dynamics. Financing offer stays higher than demand, leading to increased competition and to pressure on the price,” said Speteanu in a press conference.

Customers maintain their preference for used cars.

On the other hand, the operational leasing market recorded in the first quarter a 16 percent growth to over 50,000 vehicles.

In the period from January to March there were registered 2,500 vehicles for operational leasing financing, accounting for 15 percent of the total vehicle registrations.