The value of new leases in Hungary rose 8.7% year-on-year to HUF 520 billion in the first half, the Hungarian Leasing Association said on Tuesday.
The number of new contracts increased 5.3% to 42,536.
Leases of passenger cars, light commercial vehicles and motorcycles accounted for HUF 319 billion of the new financing, up 8.5%. New financing for heavy commercial vehicles rose 12.6% to HUF 103 billion. The value of farm machinery leases climbed 25% to HUF 51 billion.
The whole leasing portfolio increased 5.5% to HUF 2,478 billion, while contract numbers edged down 0.6% to 309,904.
In the first half of this year, financial leasing remained the dominant form of financing, accounting for 84% of all transactions. Of this amount, HUF 297 billion was in closed-end financial leases, while HUF 140 billion was in open-end financial leases. Loan financing linked to government and European Union-subsidized programs also increased, totaling HUF 26.5 billion in the first half of the year, which corresponds to 5% of total financing.
This growth was significantly driven by government subsidies for agricultural machinery available under the Common Agricultural Policy (CAP). The volume of operating leases was HUF 55.7 billion, representing 11% of the market. These transactions were primarily related to passenger cars and light commercial vehicles, mainly through fleet management companies.
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