The Austrian leasing industry has reported a record-breaking year in 2023, with new business volumes reaching €9 billion, a growth of 5.1% from the previous year. The Verband Österreichischer Leasing-Gesellschaften (VÖL) announced that the total portfolio volume exceeded €27.3 billion, supported by over 250,000 new leasing contracts.
The vehicle leasing sector achieved an all-time high, nearing €7 billion in new business and accounting for 51.4% of all new vehicle registrations in Austria. The strongest growth was observed in the LKW/Bus segment, which increased by 15.9%.
The fleet management sector also reached new heights, with new business volumes growing by 30.7% to €1.2 billion. The number of contracts with financing options rose by 18.6%, resulting in a total of 96,519 full-service leasing contracts.
Mobility leasing remained the second strongest segment, with new business growing by 1.1% to €1.644 billion. The number of new contracts saw a significant increase, up by 61.3%, despite a decrease in average contract value due to a shift towards smaller investments typical for SMEs.
Contrary to other segments, real estate leasing faced a downturn, with new business volume decreasing by 27% to €401 million. This decline is attributed to the challenging conditions in the domestic real estate market.
Dr. Alexander Nekolar, newly elected president of VÖL, expressed optimism for 2024 despite the challenges. He emphasized the industry's pivotal role in supporting Austria's digital and energy transitions. However, Nekolar pointed out the need for policy changes to eliminate funding biases against leasing, which restrict financing freedom for Austrian businesses.
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