Latvian Vehicle Leasing May Receive Boost In 2009

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SEB Leasing, the vehicle leasing division of one of Europe's largest banks, SEB, believes that the market for leased vehicles in Latvia will pick up 'up once the economic situation has evened out'. According to estimates from the Latvian Authorised Automobile Dealers Association, new vehicle sales declined by 40.9% year-on-year (y-o-y) to 19,192 units in 2008, which hit the market for leased vehicles in Latvia.