Tiriac Leasing's turnover down 3%

Tiriac Leasing, one of the largest companies on the leasing market, granted financing worth 217.5 million euros last year, 3% less than in 2007, according to a company estimate. In 2007, the volume of financing amounted to 224 million euros, a 47% increase on the previous year. The company specialises in car leasing, which accounts for 82% of the total market, with 18% being accounted for by leasing for the acquisition of equipment. Last year’s turnover decline came amid a slump in sales of new cars, which affected the entire leasing market, 70% of which is represented by car leasing. Several leasing companies recorded significant declines in the volume of financing in the last few months of 2008, and the trend will continue into this year, as well. Forecasts for this year indicate a stagnation of the leasing market, or, in an optimistic scenario, a 10% rise at the most. According to market sources, tiriac Leasing, a part of Tiriac Holdings, has been put up for sale, but company representatives say they have no such intention.