The organisation’s Annual Statistical Survey of the European leasing market for 2014 shows that new business reached €276bn in 2014, increasing by 9.5% compared to 2013.

While the increase in new business volumes was largely driven by Europe’s four largest economies, most national leasing markets saw positive results in 2014 with a notable improvement in Southern Europe compared to the previous year.

Growth was also observed across the main asset categories covered in the survey, particularly for vehicles, which remained the driving force behind the market’s positive performance in Europe. New leasing volumes for passenger cars rose by 14.6% in 2014 compared to 2013 with slightly lower but still strong growth for commercial vehicles at 10.6%.

Piero Biagi, chair of Leaseurope’s Statistics & Marketing Committee and Managing Director, BCC Lease, Italy, said: “2014 was generally a good year for the European economy with GDP rising by 1.4% in the EU283. Our industry outperformed this with a nearly double-digit annual increase, highlighting the significant demand for leasing in times of economic growth. Despite the Eurozone-related challenges lying ahead, which could impact the business environment, the leasing industry has shown its resilience to challenging market conditions before. It is therefore important to continue providing our clients with a reliable value proposition in the face of uncertainty over the coming months.”

Extracts from the 2014 Annual Statistical Survey are available here.