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Impact of the crisis on the leasing sector
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 Spanish fleet expert company C.A.R. has published a report on the impact of the crisis on the leasing sector and, more specifically on the Spanish market, which has been hit especially hard. In Spain, the leasing market, used to double-digit growth rates throughout its 24 years of existence, will record a decrease of 10% in 2009. For C.A.R., the highest cost of the crisis was the fall in second-hand car prices. In Spain, 165,000 cars reached the end of their contract in 2008, incurring losses of 350 million EUR for the leasing industry. To reduce their stocks, leasing companies found new channels to resell their second-hand cars. Exports and sales through the Internet grew significantly. To diminish losses, another solution was the extension of contract duration. During 2008 and 2009, almost a third of contracts were extended for 6 to 24 months. Leasing companies have also streamlined their processes in order to reduce costs. You can read the full report by clicking on the link below.
| 04/11/2009 |
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