Porsche Leasing financing down 60%

Porsche Leasing, one of the leading companies on the financial leasing market, which operates in the automotive sector, financed the acquisition of vehicles worth 121 million euros last year, down 59% against 2008. This is the lowest decline recorded on the overall leasing market, which fell to a quarter of the 2008 value, i.e. from 4.8 billion euros to 1.3 billion euros. Leasing companies were significantly hurt by the collapse of the auto market, their main source of business. “This modification was caused by changes in consumer behaviour, combined with the current economic context. Clients now extend the usage of cars and put off the decision to acquire a new car, although for companies in particular, mobility is an important aspect of their daily activities,” said Kurt Leitner, CEO of Porsche Finance Group.

The group holds the financial leasing company, a bank specialising in auto loans, an insurance broker, a comprehensive auto insurance company and an operational leasing firm.