Car leasing company ALD Automotive has made a record profit in the first six months of this year. This was largely due to high used car prices. ALD made an average profit of more than EUR 3200 on the sale of a used lease car. In the same period a year earlier, that was no more than 740 euros.
Because fewer new cars are being delivered, there have been fewer second-hand cars for some time now. As a result, the prices of used cars have risen.
New cars also became more expensive, allowing ALD to raise lease prices as well. At the same time, ALD had to write off due to Turkish hyperinflation and a provision had to be made for the activities in Ukraine. Nevertheless, a turnover of 606.1 million euros was recorded, an increase of more than 72 percent. Net profit rose more than three quarters to 350.4 million euros.
At the beginning of this year, ALD announced that it would take over Dutch counterpart Leaseplan. In the first half of this year, the French company already incurred costs of 41.3 million euros in preparation for that acquisition. It should be completed by the end of this year.
Leasing company ALD benefits from demand for used cars
Source link Leasing company ALD benefits from demand for used cars