New business in German equipment leasing has
grown by 3.7 percent in the second quarter of this year.

This represents the first growth since 2009,
the Federal Association of German Leasing Companies (BDL) has
said.

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The increase was supported mainly by vehicle
leasing, BDL figures show, including 6.4 percent growth by cost in
the non-commercial vehicle segment.

Commercial vehicle
leasing rose by 2.7 percent; the two segments combined make up
two-thirds of all new business for equipment leasing. However,
production machinery leasing, the second largest segment after
vehicles, saw further decline, down 7.5 percent.

Horst Fittler, CEO of BDL, said: “The
pleasing growth in car leasing is mainly due to pent-up
demand.

“As a result of the economic crisis last year,
many companies renewed their leases instead of investing in new
cars.”

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However, he added that the positive trend in
vehicle leasing was mitigated by the decline in production
machinery leasing, as well as in IT and office equipment leasing,
which fell 7.2 percent.

An “unsatisfactory”
start to the half-year also meant a fall of 11.6 percent in new
business during the first quarter, but Fittler has said he remains
optimistic for the second half, albeit cautiously.
He said: “If the leasing industry can
achieve a small increase in 2010, we can be satisfied.

“Germany has an extremely low net investment
ratio. Need now exists, and if the investment activity picks up
again, it will largely be leasing companies that enable
investment.”

claire.hack@vrlfinancialnews.com