Porsche Leasing, the largest such company on the domestic market has revised its goals for this year, upping the full-year contract value target to 190 million euros from the 160 million euros expected early in the year.
The growth is due to the better than expected performance of the automotive market, says the company''s general manager Bogdan Apahidean.
Porsche Leasing concluded nearly 3,800 contracts in the first quarter, worth more than 57 million euros, up over 35% from the same time last year
"The development was mainly due to the increase in the sales of vehicles, which in its turn was due to the increase in the number of special offers for financing, and the adjustment and diversification of the financing products in line with the demands of the clients," Bogdan Apahidean explains.
Apahidean says he had initially estimated a growth pace of the automotive market of approximately 15%, but, judging by the trend in the first few months of this year he''d rather expect a 25-30% growth.
"If development maintains this trend, we will exceed 12,000 deliveries in leasing, in addition to those on credit," Apahidean added.
Besides Porsche Leasing Romania, the Porsche financial group has expanded on the domestic market by opening Porsche Broker Asigurari (in early 2003) and Porsche Bank (last autumn), the first auto bank that offers loans for purchasing vehicles made by the Volkswagen Group.
"The lending business is expanding, yet it is too soon to be drawing conclusions on the results. After conducting the actions scheduled for the next period we will be able to say something in this regard. At the moment, 47.5% of Porsche Romania (Volkswagen Group''s importer in Romania) sales are funded by Porsche Leasing and Porsche Bank," Apahidean added.
With 190 million euros in contracts, Porsche Leasing could see an over 30% growth at the end of this year compared with the 145 million euros a year ago. ionut.bonoiu@zf.ro
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