Italian leasing market cools down after multi-year growth
For the first time in years, long-term rental faces a decrease in Italy. In the first quarter of 2019, the sector recorded a drop of 10.9% compared to the same period of 2018. Of the four big rental companies, Leasys, ALD Automotive, Leaseplan and Arval, only the latter registered a positive evolution (16,384 registrations, +9.6%). FCA’s captive (Leasys) remains the market leader but lost 22,279 registrations compared to last year (-8.5%) despite the acquisition of WinRent.
ALD Automotive took the biggest hit in Q1 2019, losing over 8,000 registrations (-40.9%) compared to Q1 2018. Leaseplan contracted by 10,309 registrations (-27.3%).
Other companies in the top 10 are Volkswagen Financial Services and Alphabet, which grew by 1.9% and 8.9% respectively. Most lessees are companies, but private individuals are a growing group of customers. According to Aniasa, the National Association of Car Rental and Automotive Services, private lease registrations will hit the 50k mark this year.