kilkelly geraldine

The UK asset finance market has maintained a full-year growth rate of 4% as latest figures show the market held steady during November 2017.

New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) in November was £2.5 billion, a similar level to the same month in 2016.

The commercial vehicle finance and IT equipment finance sectors reported new business up by 5% and 1% respectively, compared with the same month in 2016, while new finance for plant and machinery fell by 3% over the same period.

Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said: “The asset finance market reported a broadly stable picture across the main asset sectors in November, and remains on course to report a record level of annual new business in 2017 of around £32 billion.”

Total FLA asset finance growth to the end of November is 4%, but excluding high value items, it is 6%.

 Nov 17

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Total FLA asset finance (£m)  2,541  0 7,962  0  31,804  +4
Total excluding high value (£m)    +4  7,936  +3  30,919 +6
Data Extracts:
By asset:
Plant and machinery finance (£m)  481   -3  1,464  -2  6,506  +10
Commercial vehicle finance (£m)  691  +5  2,061  +4  7,574  +2
IT equipment finance (£m)  235  +1  642  +5  2,246  -4
Business equipment finance (£m)  209  -4  624  +4  2,566  +9
Car finance (£m)  738  -2  2,538  -1  9,854 +5
Aircraft, ships and rolling stock finance (£m)  8  -60  45  -45  574  +18