29 Mar 18

Fast-growing Austrian car leasing breaks records

In 2017, car leasing in Austria grew 9.6% year-on-year to €5.1 billion. A total of 205,000 car leasing contracts were signed last year. Both results have set new records in the Alpine republic. 

Overall, nearly 40% of all new registrations in Austria were made via leasing contracts. The average contract amount remained stable at just under €25,000. 

For fleet management, last year measured an increase of 3.5% to €868 million, with the number of contracts rising 3.1% to nearly 35,000.

The number of full-service leases climbed to 93,035 – an 11.8% increase over 2016 and a new record for Austria. 

The figures were released by the Association of Austrian Leasing Companies (VÖL), which reported that the overall leasing market in Austria grew by 7.4% in 2017, with new lease volumes reaching a record €6.9 billion – meaning that business volume is now higher than the previous record, set in 2008 before the global recession hit. 

In short: the Austrian leasing industry is growing faster than the overall economy, and the car leasing sector is growing faster than the leasing industry as a whole.

Authored by: Frank Jacobs