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Agrarian machine leasing increases

Despite the coronavirus epidemic, the amount financed on the leasing of agrarian machines increased by almost 1% in the second quarter, and the value of the total portfolio increased by 11% to more than HUF 192 billion, the Hungarian Leasing Association said, according to economic daily Világgazdaság. 

Image by MrGoSlow/Shutterstock.com

Due to the coronavirus epidemic, sales in the Hungarian vehicle market, including cars, decreased, and demand for leasing financing also became more restrained, but there are exceptions.

In the case of agricultural machinery, the amount financed by leasing companies increased, albeit modestly, by 0.7% to HUF 45.5 bln. Which is the best second-quarter result of the last four years, the Hungarian Leasing Association announced on the basis of its own data and that of the Agricultural Economics Research Institute.

The leasing portfolio related to agricultural machinery increased by a much larger amount, by 11.4%, to HUF 192.1 bln, which is also a record amount for Q2 since 2016.