ELA recently released the results of the Monthly Leasing Index (MLI) for March 2005. The key metrics highlighted in the March MLI are once again mixed.
New business volume increased from February's $3.2 billion to $3.78 billion in March, an increase of 18%. Although still slightly below January's $4 billion, March's increase shows a market correction of the anomalies that brought February's down. Delinquencies (net of unearned income billed but not yet received) increased slightly for the under-30 days category to 98.46% in March compared to 97.95% in February. Credit approval ratios increased to 83.2% over February's number. Average charge-offs rose slightly to 0.53% from February's 0.39%. The total number of employees increased from 8,926 in February to 9,072 in March, representing a 1.6% increase, continuing the upward trend in employment.
Because the same companies participate in the study each month, the MLI provides a fairly reliable and consistent trend analysis of current industry activity. Results of each MLI are posted on the ELA website and Equipment Leasing Today magazine.
This MLI is conducted monthly by the ELA, which provides a variety of studies, reports, and market analyses covering the $220 billion equipment leasing and finance industry. To access this and other industry information, visit http://www.elaonline.com/IndustryData or call Dean Frutiger at (703) 516-8380.
Participants in the March 2005
Monthly Leasing Index:
- ADP Credit Corporation
- Amsouth Leasing Corporation
- Bank of America
- Caterpillar Financial Services Corporation
- De Lage Landen Financial Services
- First American Equipment Finance
- GreatAmerica Leasing
- Hitachi Credit America Corp.
- HP Financial Services
- John Deere Credit Corporation
- Key Equipment Finance
- LaSalle National Leasing Corporation
- Marlin Leasing Corporation
- RBS Citizens
- Siemens Financial Services
- U.S. Bancorp Leasing & Financial
- Verizon Capital Corporation
- Wells Fargo Equipment Finance