In Jan-Sep period 2008, the total value of leasing contracts was €4.18 billion.

Car leasing contracts fell 76% to €685.63 million, while equipment lease-to-purchase agreements dropped 77% to €209.95 million.

However, real-estate leasing activity outperformed other segments, with 40% decline to €183.09 million, said Boloux.

“There is a certain transfer from the independent sector to the second-hand car sector”, he added.