Preliminary survey results for 2019
Leaseurope, the trade association representing the European leasing and automotive rental industries, has released the results of its preliminary survey of the European leasing market for 2019.
The preliminary data for 2019 shows that the leasing market continued growing, albeit at a slower pace than the preceding year. In 2019, total new business volumes increased by 3.1% compared to 2018, while the outstanding portfolio expanded by 3.6% among the member associations reporting.
New business volumes for vehicles rose by 3.0% in 2019. Similarly, equipment leasing was up by 2.8%. While each of these leased asset categories performed positively at European level, new business volume growth seems to be slowing down across countries with some national markets posting lower results than last year as well. Real estate leasing enjoyed an increase of 6.9%.
Commenting on the figures, Leaseurope’s Senior Adviser in Statistics and Economic Affairs, Jurgita Bucyte said “Although experiencing some moderation compared to previous years, the leasing industry remained on a growth path in 2019, despite lowered levels of European equipment investment during this period. Looking at the performance of individual asset types, none of the key leasing sectors stood out as significant market drivers. Going forward, while the European economic forecast originally predicted weaker economic prospects in 2020 posing risks for further expansion of the leasing market, now the duration and severity of the newly emerged ‘2019-nCoV’ coronavirus undoubtedly brings major additional challenges globally. The longer-term economic impact of this situation becomes a source of concern for lessors who will seek to ensure, as in previous crises, that they will play a vital role in helping European businesses, especially SMEs, recover.”