New leasing contracts in the first quarter of 2009 fell by over
40 percent year-on-year in Slovakia, according to new figures from
the Slovak Leasing Association (ALSSR).
Despite the Slovak leasing market growing by 6.5 percent overall
in 2008, a large 70 percent reduction in the volume of new
contracts in the cargo transport sector has hit the industry
hard.
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The total volume of new leasing contracts thus fell by 42.9
percent year-on-year in the first quarter, to €362 million.
At 32 percent of all movable assets, lease penetration in
Slovakia is one of the highest in Europe, explained Juraj Ebringer,
head of the board of directors of the ALSSR.
Yet, the industry has been reporting a decline in the truck
segment since the third quarter of last year, with other sectors
rapidly deteriorating also.
“This drop is drastic,” said Ebringer. “But all other
commodities, except for immovable assets, reported a decrease
too.”
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By GlobalDataJason T Hesse
