Economy
Hungarian leasing market outperforms European average
The top leasing firms in Europe registered 1.9% growth in the third quarter, nearly unchanged from 2% in Q2 and well below the 10.5% figure from the first quarter of 2017.
Meanwhile, the volume of new leasing contracts in Hungary grew 23%, 15% and 19% in the first three quarters last year and stood at HUF 428 billion at the end of September 2017.
Growth in Hungary was well above projections of less than 10%, according to Zoltán Tóth, secretary general of the Hungarian Leasing Association. All segments contributed to growth, but vehicle financing played a key role, with cars and pick-ups growing 23% and trucks 19% in January-September, he added. Machinery financing also expanded 41% compared to the first nine months of the previous year.
The association expects slightly slower, single-digit growth in 2018 and sees the growth of the economy and investments as key to further expansion in vehicle and asset financing.
Meanwhile, the volume of new leasing contracts in Hungary grew 23%, 15% and 19% in the first three quarters last year and stood at HUF 428 billion at the end of September 2017.
Growth in Hungary was well above projections of less than 10%, according to Zoltán Tóth, secretary general of the Hungarian Leasing Association. All segments contributed to growth, but vehicle financing played a key role, with cars and pick-ups growing 23% and trucks 19% in January-September, he added. Machinery financing also expanded 41% compared to the first nine months of the previous year.
The association expects slightly slower, single-digit growth in 2018 and sees the growth of the economy and investments as key to further expansion in vehicle and asset financing.
