The leasing market in Hungary grew by around 20% in 2011, according to data compiled from members of the Hungarian Leasing Association.

The market grew in all four quarters last year.

The value of new leases totalled HUF361.2bn (around €1.3bn) in 2011, up from HUF303bn in 2010. The number of new leases fell 5.5% in 2011, but the average outlay per contract grew. About 76,400 new lease contracts were signed last year. New outlays for machinery and equipment rose by more than 45% last year.

The association expects new car sales in Hungary to climb 10% to 50,000 in 2012 due to fleet growth. The proportion of new car purchases for cash is expected to fall from almost 30% in 2011 to 10–12% this year. The association said market performance in 2012 would depend on whether or not the eurozone slips into recession. The association’s members expect solid but modest growth in 2012, boosted by corporate vehicle leases.

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