“In the first quarter of 2013 the development of the local operating leasing market basically stagnated. This is due in part to the fact that massive movements on the market do not generally occur at the beginning of the year, but mostly due to the weak economic environment and a declining auto market,” Bogdan Apahidean, head of the association until April 18, said in a press release.
Over 2,200 cars were registered via operating leasing in the first quarter, accounting for about 18% of registrations of new cars and light commercial vehicles.
The top five operating leasing companies in Romania are LeasePlan Romania, ALD Automotive, Porsche Mobility, Arval Service Lease Romania, and RCI Finantare, according to the association.
On April 18, the association elected a new management board. The board president for the next year will be Daniel Ivan, executive manager of Fleet Management Services, while Bogdan Apahidean, general manager of LeasePlan Romania, and Radu Manea, manager of Porsche Mobility, will be vice-presidents.
“Legislative changes in the first quarter limiting deductibility on amortization and the introduction of a new car tax have had a string impact in the Romanian auto market,” said Ivan.