Margaret Waldren reports from the Leaseurope CESEE conference in
Bulgaria
Russia is expected to be Europe’s fastest-growing operating
leasing market over the next five years. The number of company cars
funded by operating leasing is forecast to expand at least fivefold
by 2012. However, restraints stemming from the specifics of the
fleet market in Russia – such as the quality and reliability of
service providers – could slow the growth of this funding
method.
Go deeper with GlobalData
The number of passenger cars in use in the 25 major European
countries covered by Datamonitor research is 270m, of which one in
11 is a company car. A breakdown of new-car sales in 2007, however,
shows that company cars accounted for 29 per cent of total sales
and 11 per cent of sales in Eastern Europe and emerging
markets.
Looking to the future, Datamonitor’s automotive analyst Jugoslav
Stojanov – speaking at Leaseurope’s 2008 Seminar for Lessors in
Central, Eastern and South-Eastern Europe mid-April in Sofia –
ventured that over the next five years, the number of company cars
in Eastern Europe and emerging markets will increase by 23 per cent
whilst Western Europe will see growth of just six per cent.
In Eastern Europe and emerging markets, operating leasing
represents just 5 per cent of company car funding. This is forecast
to increase to 8 per cent by 2012. Greece is the leading user of
operating leasing, with nearly 20 per cent penetration, and Russia
is currently in last place, with less than 1 per cent penetration.
Turkey is the largest country by size of operating lease
fleet.
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By GlobalData
Motor Finance Issue: 43 – May 08
Published for the web: May 27 08 14:23
Last Updated: May 27 08 14:25
