Leasing market plunges 75-80% in the first semester

Romania's leasing market reduced 75-80 percent in the first six months, mainly owing to a steep drop of vehicle sales, the general secretary of Romania's leasing companies association (ASLR) Adrian Dodita declared.

Dodita mentioned few new contracts were inked this year and that many clients gave up their contracts from various reasons.

The leasing companies in Romania are currently focusing on cashing installments from previous contracts and squeezing money from recovered goods, according to Dodita.

The official estimates the local leasing market could resume growth following the economic turmoil after the financing process is unblocked, probably in 2010, but there will no longer be two-figure increases like in the past years.

Romania's leasing market dropped 2.6 percent last year versus the previous to 4.817 billion euros following a negative impact of the pollution tax for vehicles and the difficult economic context in the last part of 2008.

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