Strong Growth for Car Leasing Companies

Professional ServicesFinancial Services ♦ Published: July 25, 2011; 19:24 ♦ (Vindobona)

Booming car sales are boosting the leasing business in Austria. All major leasing banks recorded growth in the first half of 2011. The trend is expected to continue.

Strong Growth for Car Leasing Companies / Picture: ©

The first half of 2011 brought an all-time record in car registrations. This is good news not only for car manufacturers and component suppliers but also for Austrian banks. According to the Association of Austrian Leasing Companies (VÖL), one out of three new cars is financed by leasing.

In the first six months of the year, Porsche Bank AG financed 16,000 cars through leasing…