Members of the Association “Ukrainian Union of Lessors” registered 13% of passenger car sales in Ukraine, which indicates an increase in this figure compared to last year, a difficult year by four points. Also, 11.6% of light commercial vehicles were leased.
A total of 14,814 vehicles were registered by the members of the Association last year. December was the peak month in 2020, during which 1,782 vehicles were registered. According to the calculations of the Association, the volume of vehicle registrations by leasing companies increased by 13% during the period. Thus, it can be argued that the leasing market, even in the difficult conditions of the COVID-19 pandemic, has managed to show growth in the automotive segment.
As previously reported, in March-April 2020, there was a decline in vehicle registrations by leasing companies with a further resumption in May. In the third quarter, the motor leasing market revived and grew by 56% compared to the second quarter and by 15% compared to the first. In the fourth quarter, the market recorded its recovery with a further increase of 1% compared to the third quarter.
OTP Leasing (25% of all registrations for the period), ULF Finance (16%), and Avis (7%) became the top three in terms of new vehicle registrations last year. In the segment of used vehicles, the top three companies included Autocredit Plus (11%), AK Plus (6%) and ULF Finance (4%).
Cars remain the most common vehicle for leasing, with a market share of 76%. The most popular cars registered for leasing throughout the last year were Renault cars. The share of this brand was 22%. Toyota (11%), Peugeot (9%), Skoda (6%), VW (5%) were also among the five most popular brands.
Outside the passenger car segment, about 11% of vehicle registrations were for trucks and another 7% for light commercial vehicles. The remaining segments had a share of less than 5%.
According to the Association, its members occupy about 80% of the total leasing market. Therefore, the level of leasing penetration into these vehicle segments is even higher than the Association’s calculations.