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Leasing outlays for agricultural vehicles reaches HUF 79 bln in Q1

Automotive

The value of agricultural vehicles leased by companies reached HUF 79 billion in the first quarter of the year, up 7% on an annual basis and up 0.5% on quarterly terms, the Hungarian Leasing Association said yesterday, according to Hungarian news agency MTI.

Katalin Nyikos, president of the association, said the 7% year-on-year growth in Q1 is far below the 45% annual growth in the same period last year, but the numbers still point toward growing activity in the leasing sector. 

Leasing contracts for new agricultural vehicles made up 86% of the total, while contracts for used vehicles represented 14% of all outlays by leasing firms.

The association complied its report with help from the Research Institute of Agricultural Economics.

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