Biggest leasing firm anticipates 20% turnover increase

Leasing firms had a weaker first quarter in terms of the car segment-related business against the same period of last year, offset, however, by the slightly recovering demand from corporate clients for equipment financing, states Dan Constantinescu, sales executive with UniCredit Leasing Corporation, the biggest company on this market. “In terms of retail, i.e. the car segment for us, the first quarter was weaker, but overall financing hit the same level of the first three months of 2009 (…),” Constantinescu says. Another positive signal is the slight pick-up in fuel consumption in March, meaning that things are starting to move in the economy. Despite the fragile first quarter, UniCredit Leasing manager expects the market to rebound in the second half. The company has budgeted turnover growth by as much as 20% in 2010, based on second half expectations. In 2009, the company funded goods worth 289m euros, from 555m euros in 2008, meaning a 48% drop. “We expect 2010 to be a better year for us, but I believe the market will not witness any changes from last year (…),” Constantinescu says.