SkoFIN sees volume of deals drop by 41 percent
SkoFIN, one of the largest leasing companies on the Czech market, saw its volume of deals sink by 41 percent year-on-year to Kč 3.24 billion in the first half of this year, the company has announced.
Foto: Martin Siebert
SkoFIN signed 10,000 new contracts in H1, down a third against the period last year. Out of the total number of new contracts, 71 percent were loan contracts. Loans for new passenger cars for businesses jumped by 136 percent year on year to Kč 995 million. All loans for businesses grew by 14.3 percent to Kč 1.444 billion, while consumer loans were up 38.4 percent to Kč 616 million.
The high growth in the number of loans for passenger cars for businesses was due to anti-crisis legislation which came into force on April 1, 2009 and temporarily provides for VAT deductions on passenger cars for businesses.
Rival companies have not yet made public their January-June results. In the first quarter of this year, leasing of movables sank by a record 51.5 percent to Kč 10.7 billion, according to the Czech Leasing and Financial Association.
Established in 1992, SkoFIN specializes in loans for car purchases. The company is a part of the Volkswagen concern and finances sale of car makes Skoda, Volkswagen, Seat and Audi.