The figures the leasing market reported several days ago,indicating an over 30% decline in the first quarter, pushed manycompany managers to rethink the plans they drew up at the start ofthe year. Whilst in January there was still hope for growth, now itis clear: leasing will fall further. Leasing, an industry that onlytwo years ago was close to the 5bn-euro mark, is set to cope withyet another challenging year, after it was the hardest hit sectorof the economy in 2009, with a 72% slump. Why is the market notpicking up? Companies, financers' main clients, have put theirinvestment plans on hold, as they have no idea whether VAT and theflat tax are to be raised, hurting their businesses. The sameuncertainty is being felt among individual clients, say leasingfirm managers. The first quarter of 2010 is among the worst periodsin the history of the leasing market, mainly as companies are nolonger investing in car fleets. Also, amid the current economicclimate, nobody is buying anything any longer. 2010 will mostlikely end with a market decline from the already low level of2009, but some more upbeat managers see stagnation.
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