Russian Car Leasing Market in First Half-Year Increases by 19%
OREANDA-NEWS. By the results of the first half of 2014 car leasing showed an increase of 19%, by becoming the largest segment in the structure of new business for the first time since 2008. According to the rating agency "Expert RA", during the reported period the cargo and passenger vehicles have shown a high rate of growth of new contracts (by 16% and by 23%, respectively). Motor vehicles because of the high liquidity became one of the most popular types of leased assets in the face of slowing economic growth. In addition to the traditional leaders in the segment of vehicles, state company increased deals significantly: "VEB-Leasing" is now ranked the first by the new transactions in the segment of trucks and car leasing.
As the agency "AUTOSTAT" was informed by "VEB-Leasing", by the results of 8 months in 2014 the volume of new business of company "VEB-Leasing" in the leasing segment of trucks was 10.4 billion Rubles (+33.8%), in the segment of passenger transport - 14.8 billion rubles (+50.1%). The company noted an increase in demand from small and medium-sized businesses for leasing services of passenger cars, trucks, commercial vehicles, machinery and equipment. In this case, the greatest demand among customers is enjoyed by trucks of domestic and foreign production with a payload capacity over 5 tons, as well as passenger cars of brands Ford, Kia, Toyota, Lada, Nissan, Hyundai, and Volkswagen.
According to Deputy General Director of JSC "VEB-Leasing", Alex Sichinava, in the future the demand for leasing services will be maintained due to the transition of customers from the number of bank borrowers and those, who have earlier bought vehicles at their own expense. It is the trend that is observed by the "VEB-Leasing". In addition, the second half is more active traditionally by sales of leasing services.
"One of the reasons for the growth of auto leasing market is the interest of dealers in cooperation with leasing companies. Car dealers in the fall sales are trying to attract customers with new financial products and improved conditions, cooperation with leasing companies is profitable for dealers, as the conditions of leasing for customers among the number of entrepreneurs is more favorable than the terms of the loan. The ultimate beneficiary of these discounts are clients of the leasing company, who in fact buy a car in installments at the market price or with a small rise in price", - Alex Sichinav informed the agency "AUTOSTAT". - By talking about why today segment of car leasing has become the main driver of growth in the leasing market as a whole, we can note the negative trends observed in other key segments of the leasing market. In particular, in the segment of the leasing of railway rolling stock there is stagnating for the second year, which is caused by the considerable proficiency of the wagon parc in the use at operators. According to various estimates, the excess is from 200 to 300 thousand wagons. Restricting access to foreign sources of financing and the extensive growth of the aviation industry affect negatively on aircraft leasing segment.
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