New leasing business grew just 0.3% across Europe to €225bn in 2012 compared to the year before, according to preliminary results from Leaseurope’s annual member survey.

New business volume in the vehicle leasing segment grew 2.6% year-on-year to €139bn which counteracted the 3.1% decline in equipment leasing, down to €89bn in 2012.

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Total new business volume for Leaseurope members, which includes real estate business, was down 2.8% year-on-year to €241bn due to a 31.7% decline in commercial property leasing sector across Europe.

The findings of the preliminary report, which is based on a homogenous sample of 30 Leaseurope member associations, is an improvement on the recently published Leaseurope Index which found business volumes were down 14.3% year-on-year in 2012 based a survey of 17 leasing companies.

Jurgita Bucyte, Leaseurope’s adviser on Statistics and Economic Affairs, said: "The relatively weak economic environment was a drag on the European leasing market in 2012, especially in the second half of the year where European GDP levels were disappointing.

"It is encouraging though that, with the exception of real estate leasing, overall new business remained stable compared to the previous year and vehicle leasing in particular performed well."

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Leaseurope said full comprehensive results of its survey will be published following its completion in the coming months.

The European leasing trade body has also extended the deadline for its annual ranking survey which charts the performances of leasing companies based on the value of new contracts signed during the year.

Firms which wish to take part in the ranking have until 19 April to complete a short survey and can find more information on how to do so on the Leaseurope website.