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As we step into 2024, the personal car leasing landscape is poised for continued growth, driven by unlocked car supplies and dealers’ increasing openness to external financing, according to experts from PKO Leasing, Poland’s largest leasing provider
A Strong 2023 Performance and Optimistic Outlook
PKO Leasing, topping the charts as Poland’s leading leasing provider, closed 2023 well beyond expectations, anticipating the positive trend to persist in the next 12 months.
Projections for 2024 and Emerging Trends
Predicted trends for 2024 include sustained growth in the premium car segment, accelerated development of electromobility, and a growing interest in corporate fleet investments.
Leasing Industry’s Remarkable Year
The leasing industry experienced a remarkable year, with financing across all categories surpassing PLN 100 billion. Nearly half of this value is attributed to personal car leasing, signifying a 30% year-on-year increase.
Investment Surge in Vehicle Fleets
Clients are expected to ramp up investments in corporate vehicle fleets in 2024, fueled by released funds and an appetite for new projects, supported by manageable inflation and lowered interest rates.
Electromobility Challenges and Solutions
Electromobility remains a pivotal theme. The slow rise of electric cars in Poland prompts discussions about potential updates to support programs like “Mój Elektryk,” advocating for increased funding limits and incentives for used electric vehicles.
Dealers Embrace External Financing
Abundant car stocks for the second consecutive year lead dealers to anticipate a market growth of at least 5% year-on-year in 2024. Increased supply opens doors for external financing, presenting an opportunity for leasing companies.
Continuing Luxury Car Market Growth
Premium car segments (D and E) continue to thrive, constituting a quarter of the entire passenger car market. PKO Leasing’s partnership with Inchcape JLR Poland substantiates the sustained growth in financing premium brands.
Embracing Digitalization
Digitalization plays a crucial role in streamlining leasing processes. PKO Leasing emphasizes the digitization of sales tools, aiming to simplify and expedite the car purchasing and financing journey.
While these projected trends set the tone for the leasing industry in Poland, it’s worth noting that digitalization is quietly but significantly reshaping the leasing landscape, promising a simplified and accelerated sales process.