Porsche Leasing hits full-year targets in 9 months

Porsche Leasing, one of the top companies on the leasing market, delivered more than 10,000 cars worth some 162 million euros in the first nine months of the year. This exceeds previous estimates made for the entire year.

“This year, we estimate more than 13,000 deliveries and a value of financed goods at over 210 million euros,” said Bogdan Apahidean, general manager of Porsche Leasing.

This would mean an increase in financing of around 45% against 2004.

The Porsche Leasing official says that this year”s turnover is now likely to exceed 140 million euros, after reaching 72 million euros in the first half. The company had a market share of 19.5% for the first six months of the year, in line with data from the Association of Leasing Companies of Romania.

Car market expansion was the main factor behind the better than expected growth of the company”s business, with the market seeing an increase of almost 60%, reaching a volume of 168,000 cars, over the first eight months of the year.

Representatives of the Association of Car Producers and Importers believe that the car market could reach 250,000 units by the end of the year, implying growth of almost 50% over 2004.

New cars accounted for the overwhelming majority in the volume of financing for the first nine months, with used cars representing only 1.7%, a percentage the company expects to rise next year. marius.anton@zf.ro