Hungarian Leasing Association: The first half of the year is encouraging, but the turnaround will come soon

By: Trademagazin Date: 2024. 08. 09. 08:57

Although the Hungarian leasing market improved in several asset categories in the first half of the year, there is also a decrease in orders for motor vehicles and production equipment, and this can significantly affect the results of the second half, explained László Kőszegi, Secretary General of the Hungarian Lizing Association. The specialist also pointed out that the financing campaign announced in the passenger car segment gave the leasing market a significant boost, so the number of residential contracts doubled compared to the first half of 2023.

In several asset categories, the Hungarian leasing market was able to improve significantly in the first half of 2024 compared to the results of a year earlier. In the case of cars, for example, the increased activity at the end of last year continued in the first half of this year, and among the asset categories, only agriculture experienced a decline.

“At the same time, the market is still characterized by caution and waiting: both in the case of motor vehicles and production equipment, there is a decreasing order stock, and this can significantly affect the results of the second half of the year”

– said Secretary General László Kőszegi. As he explained, the amount of financing in the first half of this year reached HUF 469 billion, which represents a 14 percent increase compared to the first 6 months of last year. The number of contracts was 41,709, which is almost a quarter (+24.4%) higher than the previous year. The portfolio grew by 5.6 percent, reaching HUF 2,200 billion, but the number of stock contracts shrank by 4 percent, to 318,827. László Kőszegi emphasized: “Since 2019, the last semester was the first when the number of transactions did not decrease.” He then added: “the vast majority (83 percent) of the new devices were new.”