UK asset and auto finance markets fall more than one quarter in March

New business in the UK asset finance and auto finance markets fell more than one quarter in March as the Coronavirus lockdown began, according to new figures from the Finance & Leasing Association (FLA). Total asset finance new business (primarily leasing and hire purchase) fell by 28% during the month, compared to March 2019, pulling the market down 15% for the first quarter of the year, compared with the same period last year. IT equipment finance was the only asset sector to report growth in March, with new business up by 15% compared with the same month in 2019 as digital solutions became a priority for UK businesses. Over the same period, the commercial vehicle finance and plant and machinery finance sectors reported falls in new business of 32% and 23% respectively.

UK asset and auto finance markets fall more than one quarter in March

May 11, 2020

New business in the UK asset finance and auto finance markets fell more than one quarter in March as the Coronavirus lockdown began, according to new figures from the Finance & Leasing Association (FLA). Total asset finance new business (primarily leasing and hire purchase) fell by 28% during the month, compared to March 2019, pulling the market down 15% for the first quarter of the year, compared with the same period last year. IT equipment finance was the only asset sector to report growth in March, with new business up by 15% compared with the same month in 2019 as digital solutions became a priority for UK businesses. Over the same period, the commercial vehicle finance and plant and machinery finance sectors reported falls in new business of 32% and 23% respectively.

Alternative fuels overtake diesel as COVID-19 crisis reshapes UK car market

Sales of alternative fuel vehicles have overtaken diesel in the UK new car market for the first time as the Coronavirus crisis disrupts the sector. Latest figures from the Society of Motor Manufacturers and Traders have revealed that demand for diesel has fallen rapidly as orders dry up, particularly those from the formerly diesel-dominated company car market. In March, diesel’s market share dropped from 25.7% to 17.6% compared with March 2019, while for the first three months of the year, diesel’s share fell from 26.8% to 18.9% compared to Q1 last year. Alternative fuels, covering all plug-in cars and hybrids, saw their market share nearly triple during Q1, reaching 20.6% of car sales, compared to 7.9% last year. During March, the market share of alternative fuels was 22%, compared to 7.8% for March 2019.

Alternative fuels overtake diesel as COVID-19 crisis reshapes UK car market

Apr 06, 2020

Sales of alternative fuel vehicles have overtaken diesel in the UK new car market for the first time as the Coronavirus crisis disrupts the sector. Latest figures from the Society of Motor Manufacturers and Traders have revealed that demand for diesel has fallen rapidly as orders dry up, particularly those from the formerly diesel-dominated company car market. In March, diesel’s market share dropped from 25.7% to 17.6% compared with March 2019, while for the first three months of the year, diesel’s share fell from 26.8% to 18.9% compared to Q1 last year. Alternative fuels, covering all plug-in cars and hybrids, saw their market share nearly triple during Q1, reaching 20.6% of car sales, compared to 7.9% last year. During March, the market share of alternative fuels was 22%, compared to 7.8% for March 2019.

White Clarke Group’s 2020 Global Leasing Report reveals nine years of continuous growth in leasing

The annual Global Leasing Report 2020, released by White Clarke Group in association with the World Leasing Yearbook, has revealed how nearly nine years of growth has shaped the market. The report, which is available for free download, is the definitive guide to the world’s top 50 leasing markets and provides detailed analysis of country trading environments and trends in auto and equipment finance. Highlights show that the global leasing industry has expanded by 131% in the past nine years, powered by Asia, North America and Europe, despite economic challenges. The three regions make up 95% of the world’s total leasing volume.

White Clarke Group’s 2020 Global Leasing Report reveals nine years of continuous growth in leasing

Mar 03, 2020

The annual Global Leasing Report 2020, released by White Clarke Group in association with the World Leasing Yearbook, has revealed how nearly nine years of growth has shaped the market. The report, which is available for free download, is the definitive guide to the world’s top 50 leasing markets and provides detailed analysis of country trading environments and trends in auto and equipment finance. Highlights show that the global leasing industry has expanded by 131% in the past nine years, powered by Asia, North America and Europe, despite economic challenges. The three regions make up 95% of the world’s total leasing volume.

UK consumer car finance market ends 2019 strongly as used car volumes reach record levels

A strong end of year performance for the UK car market resulted in advances for consumer car finance growing 3% in 2019, compared to the previous year, according to new data. The Finance and Leasing Association reports that the value of new business reached £38 billion, even though the number of cars financed remained static at around 2.4 million. Annual growth was mainly driven by the used car finance market, where advances rose 4% year-on-year, as the number of cars funded increased 2%. The new car finance market saw a 1% rise in advances, despite a 3% fall in the number of new cars financed to just over 933,000, as buyers opted for bigger, more expensive models, such as SUVs.

UK consumer car finance market ends 2019 strongly as used car volumes reach record levels

Feb 13, 2020

A strong end of year performance for the UK car market resulted in advances for consumer car finance growing 3% in 2019, compared to the previous year, according to new data. The Finance and Leasing Association reports that the value of new business reached £38 billion, even though the number of cars financed remained static at around 2.4 million. Annual growth was mainly driven by the used car finance market, where advances rose 4% year-on-year, as the number of cars funded increased 2%. The new car finance market saw a 1% rise in advances, despite a 3% fall in the number of new cars financed to just over 933,000, as buyers opted for bigger, more expensive models, such as SUVs.

Consumer car finance market drops as falling new car sales overshadow rising UK used car demand

Rising demand for used car finance failed to offset the impact of falling new car sales last year, with total new business volumes falling in November 2019, according to new figures from the Finance and Leasing Association. FLA figures show new business volumes in the consumer car finance market fell in 1% in November compared with the same month in 2018 and remained static in the 11 months to the end of November 2019. The consumer used car finance market reported a year-on-year increase in new business volumes of 3% during the month. However, the consumer new car finance market reported a fall in new business volumes of 8% over the same period.

Consumer car finance market drops as falling new car sales overshadow rising UK used car demand

Jan 28, 2020

Rising demand for used car finance failed to offset the impact of falling new car sales last year, with total new business volumes falling in November 2019, according to new figures from the Finance and Leasing Association. FLA figures show new business volumes in the consumer car finance market fell in 1% in November compared with the same month in 2018 and remained static in the 11 months to the end of November 2019. The consumer used car finance market reported a year-on-year increase in new business volumes of 3% during the month. However, the consumer new car finance market reported a fall in new business volumes of 8% over the same period.

Asset finance shows long-term growth in UK despite uncertainty

Total asset finance new business (primarily leasing and hire purchase) grew by 6% in the 11 months to the end of November 2019, new research from the Finance and Leasing Association reveals. During November, business remained static during November compared to the same period last year as companies prepared for a general election in December and clarity on which government would oversee Brexit strategy. The IT equipment finance sector reported a second consecutive month of strong double-digit growth in November last year as new business increased by 41% compared with the same month in 2018.

Asset finance shows long-term growth in UK despite uncertainty

Jan 28, 2020

Total asset finance new business (primarily leasing and hire purchase) grew by 6% in the 11 months to the end of November 2019, new research from the Finance and Leasing Association reveals. During November, business remained static during November compared to the same period last year as companies prepared for a general election in December and clarity on which government would oversee Brexit strategy. The IT equipment finance sector reported a second consecutive month of strong double-digit growth in November last year as new business increased by 41% compared with the same month in 2018.

Consumer car finance market falls by 4% in UK during October

New business volumes in the consumer car finance market fell by 4% in October compared with the same month in 2018, according to figures released by the Finance & Leasing Association (FLA). The new car finance market reported new business volumes 9% lower in October than in the same month in the previous year, although the percentage of private new car sales financed by FLA members reached a record 91.3%. The consumer used car finance market reported a fall in new business volumes of 2% in October compared with the same month in 2018.

Consumer car finance market falls by 4% in UK during October

Dec 18, 2019

New business volumes in the consumer car finance market fell by 4% in October compared with the same month in 2018, according to figures released by the Finance & Leasing Association (FLA). The new car finance market reported new business volumes 9% lower in October than in the same month in the previous year, although the percentage of private new car sales financed by FLA members reached a record 91.3%. The consumer used car finance market reported a fall in new business volumes of 2% in October compared with the same month in 2018.

UK asset finance industry powers towards record year amid predictions for continued growth in 2020

Total asset finance new business (primarily leasing and hire purchase) grew by 2% in the UK during October compared with the same month in 2018, and rose 6% in the first 10 months of 2019, according to new figures from the Finance & Leasing Association (FLA). The IT equipment finance sector reported 43% year-on-year growth in October, while business new car finance and plant and machinery finance also reported healthy demand.

UK asset finance industry powers towards record year amid predictions for continued growth in 2020

Dec 18, 2019

Total asset finance new business (primarily leasing and hire purchase) grew by 2% in the UK during October compared with the same month in 2018, and rose 6% in the first 10 months of 2019, according to new figures from the Finance & Leasing Association (FLA). The IT equipment finance sector reported 43% year-on-year growth in October, while business new car finance and plant and machinery finance also reported healthy demand.

Average value of UK new car finance reaches record high

The average amount financed for a new car in the UK reached a record high in September as the value of advances grew despite shrinking vehicle sales, new figures from the Finance and Leasing Association show. The value of new business in the point-of-sale (POS) consumer new car finance market grew by 5% in September compared with the same month in 2018, while new business volumes fell by 1% over the same period. This drove the average amount financed to £21,563, 5% more than the same period last year, as consumers opt for more expensive vehicles, such as SUVs and an increasing number of plug-in vehicles, which carry a price premium compared to traditional petrol and diesel models.

Average value of UK new car finance reaches record high

Nov 06, 2019

The average amount financed for a new car in the UK reached a record high in September as the value of advances grew despite shrinking vehicle sales, new figures from the Finance and Leasing Association show. The value of new business in the point-of-sale (POS) consumer new car finance market grew by 5% in September compared with the same month in 2018, while new business volumes fell by 1% over the same period. This drove the average amount financed to £21,563, 5% more than the same period last year, as consumers opt for more expensive vehicles, such as SUVs and an increasing number of plug-in vehicles, which carry a price premium compared to traditional petrol and diesel models.

UK asset finance market posts strong Q3 results as businesses stockpile in anticipation of Brexit

Asset finance new business (primarily leasing and hire purchase) grew 5% during Q3 2019 compared to the same period last year, according to figures from the Finance & Leasing Association (FLA). The association also reported 5% year-on-year growth during September. The strongest September growth came from finance for plant and machinery and business cars, while aircraft, ships and rolling stock finance leapt 78%, but from a relatively low base.

UK asset finance market posts strong Q3 results as businesses stockpile in anticipation of Brexit

Nov 06, 2019

Asset finance new business (primarily leasing and hire purchase) grew 5% during Q3 2019 compared to the same period last year, according to figures from the Finance & Leasing Association (FLA). The association also reported 5% year-on-year growth during September. The strongest September growth came from finance for plant and machinery and business cars, while aircraft, ships and rolling stock finance leapt 78%, but from a relatively low base.

UK consumer car finance market falls by 2% in August

Volumes for new and used car sales fell during August, compared with the same month in 2018, in the point of sale (POS) consumer new car finance market, the UK’s Finance & Leasing Association reports. While the number of new cars financed fell 2%, the total value of finance grew 2%, in part because consumers are opting for larger, more expensive vehicles, such as SUVs. The percentage of private new car sales financed by FLA members through the POS remained at 91.2% in the 12 months to August 2019.

UK consumer car finance market falls by 2% in August

Oct 21, 2019

Volumes for new and used car sales fell during August, compared with the same month in 2018, in the point of sale (POS) consumer new car finance market, the UK’s Finance & Leasing Association reports. While the number of new cars financed fell 2%, the total value of finance grew 2%, in part because consumers are opting for larger, more expensive vehicles, such as SUVs. The percentage of private new car sales financed by FLA members through the POS remained at 91.2% in the 12 months to August 2019.

Commercial vehicle finance underpins UK asset finance market growth

Commercial vehicle finance was one of the only growth markets during August for UK asset finance new business (primarily leasing and hire purchase), according to new figures from the Finance & Leasing Association. Finance for commercial vehicles was up 11% year-on-year in August and it has risen 14% over the past 12 months.

Commercial vehicle finance underpins UK asset finance market growth

Oct 21, 2019

Commercial vehicle finance was one of the only growth markets during August for UK asset finance new business (primarily leasing and hire purchase), according to new figures from the Finance & Leasing Association. Finance for commercial vehicles was up 11% year-on-year in August and it has risen 14% over the past 12 months.

Strong performance for Colombian new vehicle market as clean vehicle demand rises

New vehicle sales in Colombia experienced their strongest month of the year in August, according the trade body Asociacion Nacional de Movilidad Sostenible (ADEMOS). Registrations were up 8.7% year-on-year to 23,305, and August also marked the fourth month of successive growth.

Strong performance for Colombian new vehicle market as clean vehicle demand rises

Sep 30, 2019

New vehicle sales in Colombia experienced their strongest month of the year in August, according the trade body Asociacion Nacional de Movilidad Sostenible (ADEMOS). Registrations were up 8.7% year-on-year to 23,305, and August also marked the fourth month of successive growth.