Leaseurope: 2014 Volume Growth Rate Highest Since 2007



Leaseurope, the trade association representing the European leasing and automotive rental industries, has released the results of its Annual Statistical Survey of the European leasing market for 2014. The survey reveals that new leasing business in Europe reached €276 billion ($309 billion) in 2014, increasing by 9.5% compared to 2013, which is the highest annual volumes growth since 2007.

While the increase in new business volumes was largely driven by Europe’s four largest economies, most national leasing markets saw positive results in 2014 with a notable improvement in Southern Europe compared to the previous year.

Growth was also observed across the main asset categories covered in the survey, particularly for vehicles with this segment remaining the driving force behind the market’s positive performance in Europe. New leasing volumes for passenger cars rose by 14.6% in 2014 compared to 2013 with slightly lower but still strong growth for commercial vehicles at 10.6%. The machinery and industrial equipment segment also performed well expanding by 10.9%. Real estate leasing saw an increase of 10.0% in 2014, witnessing the first year of growth since 2010.

Commenting on the figures, Leaseurope’s senior adviser in Statistics and Economic Affairs, Jurgita Bucyte, said “It is encouraging that growth of the European leasing market is firming. After its generally muted performance in 2013, the robust growth seen in the first half of 2014 continued into the rest of the year demonstrating that the European leasing industry is rebounding strongly across the board. By setting these results against the 4.9%2 growth rate of European equipment investment in 2014, it is clear that the leasing market plays an important role in driving the recovery of investment finance in Europe.”

Referring to the future outlook, Piero Biagi, chair of Leaseurope’s Statistics & Marketing Committee and managing director, BCC Lease, Italy, adds “2014 was generally a good year for the European economy with GDP rising by 1.4% in the EU283. Our industry outperformed this with a nearly double digit annual increase, highlighting the significant demand for leasing in times of economic growth. Despite the Eurozone-related challenges lying ahead, which could impact the business environment, the leasing industry has shown its resilience to challenging market conditions before. It is therefore important to continue providing our clients with a reliable value proposition in the face of uncertainty over the coming months.”

The full survey from Leaseurope can be found here.


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