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.

ACEA reveals global slowdown in car sales during first half of 2019

The European Automobile Manufacturers' Association (ACEA) has published its Economic and Market Report covering the first half of 2019 with the latest figures on the registration, production and trade of passenger cars and commercial vehicles, both in Europe and around the world.

ACEA reveals global slowdown in car sales during first half of 2019

Sep 23, 2019

The European Automobile Manufacturers' Association (ACEA) has published its Economic and Market Report covering the first half of 2019 with the latest figures on the registration, production and trade of passenger cars and commercial vehicles, both in Europe and around the world.

Asset finance market grows by 8% in July

Asset finance new business (primarily leasing and hire purchase) overall grew in July by 8% compared with the same month last year, according to the UK Finance & Leasing Association. New business for deals of up to £20 million increased by 7% over the same period.

Asset finance market grows by 8% in July

Sep 12, 2019

Asset finance new business (primarily leasing and hire purchase) overall grew in July by 8% compared with the same month last year, according to the UK Finance & Leasing Association. New business for deals of up to £20 million increased by 7% over the same period.

Strong performance for UK consumer car finance market in July

A strong month for point of sale (POS) consumer car finance new business in the UK has reduced its rate of decline over the past year, according to the Finance & Leasing Association (FLA). The POS consumer new car finance market reported new business in July up 1% by volume and 4% by value, compared with the same month in 2018. The percentage of private new car sales financed by FLA members through the POS was 91.2% in the 12 months to July.

Strong performance for UK consumer car finance market in July

Sep 12, 2019

A strong month for point of sale (POS) consumer car finance new business in the UK has reduced its rate of decline over the past year, according to the Finance & Leasing Association (FLA). The POS consumer new car finance market reported new business in July up 1% by volume and 4% by value, compared with the same month in 2018. The percentage of private new car sales financed by FLA members through the POS was 91.2% in the 12 months to July.

Asset finance share of UK equipment investment highest for a decade in May

Asset finance new business (primarily leasing and hire purchase) in the UK for deals of up to £20 million grew by 6% in May, compared to the same month last year, according to new data from the Finance and Leasing Association. When deals over £20 million are included, the market fell by 1%. New finance for plant and machinery and commercial vehicles both grew by 8% year-on-year during the month, while the business equipment finance sector reported new business up by 3% over the same period. The car finance market was static, while the IT finance sector fell by 9% year-on-year.

Asset finance share of UK equipment investment highest for a decade in May

Jul 05, 2019

Asset finance new business (primarily leasing and hire purchase) in the UK for deals of up to £20 million grew by 6% in May, compared to the same month last year, according to new data from the Finance and Leasing Association. When deals over £20 million are included, the market fell by 1%. New finance for plant and machinery and commercial vehicles both grew by 8% year-on-year during the month, while the business equipment finance sector reported new business up by 3% over the same period. The car finance market was static, while the IT finance sector fell by 9% year-on-year.

UK used car finance market exceeds new car sector in April

Used car finance continued to drive the UK vehicle finance market in April, according to new figures released by the Finance & Leasing Association. While new business in the point of sale (POS) consumer new car finance market fell 2% by value and 7% by volume in April, compared to the same month in 2018, demand in the used car market grew 4% by value and 1% by volume over the same period. The value of advances for new cars was £1,603 million, compared to £1,632 million in the used car market.

UK used car finance market exceeds new car sector in April

Jun 07, 2019

Used car finance continued to drive the UK vehicle finance market in April, according to new figures released by the Finance & Leasing Association. While new business in the point of sale (POS) consumer new car finance market fell 2% by value and 7% by volume in April, compared to the same month in 2018, demand in the used car market grew 4% by value and 1% by volume over the same period. The value of advances for new cars was £1,603 million, compared to £1,632 million in the used car market.

UK asset finance market grows by 7% in April

Asset finance new business (primarily leasing and hire purchase) grew by 7% in April, compared with the same month in 2018, according to figures released by the Finance & Leasing Association (FLA). New business in the plant and machinery finance and business equipment finance sectors was up by 8% and 9% respectively, while commercial vehicle finance new business increased by 23% over the same period.

UK asset finance market grows by 7% in April

Jun 07, 2019

Asset finance new business (primarily leasing and hire purchase) grew by 7% in April, compared with the same month in 2018, according to figures released by the Finance & Leasing Association (FLA). New business in the plant and machinery finance and business equipment finance sectors was up by 8% and 9% respectively, while commercial vehicle finance new business increased by 23% over the same period.

UK asset finance market grows by 11% in first quarter of 2019

Asset finance new business (primarily leasing and hire purchase) grew by 11% during Q1 2019 compared to the same period last year, according to new figures released today by the Finance & Leasing Association (FLA). New finance for manufacturing and construction equipment increased by 25% and 26% respectively, compared to Q1 2018. The growth followed a strong market in March, which grew by 11% year-on-year, with including particularly high growth in commercial vehicle finance and IT equipment finance sectors.

UK asset finance market grows by 11% in first quarter of 2019

May 10, 2019

Asset finance new business (primarily leasing and hire purchase) grew by 11% during Q1 2019 compared to the same period last year, according to new figures released today by the Finance & Leasing Association (FLA). New finance for manufacturing and construction equipment increased by 25% and 26% respectively, compared to Q1 2018. The growth followed a strong market in March, which grew by 11% year-on-year, with including particularly high growth in commercial vehicle finance and IT equipment finance sectors.

Strong first quarter for Mexican HGV sales

The Mexican heavy goods vehicle (HGV) market has reported a strong first quarter, with sales up 8.7% to the end of March, according to the Asociación Mexicana de Distribuidores de Automotores (AMDA). Total sales were 9,740 units to the end of March, with demand for tractors, cargo and passenger units was up 12.2%, 8.3% and 0.4% respectively.

Strong first quarter for Mexican HGV sales

May 01, 2019

The Mexican heavy goods vehicle (HGV) market has reported a strong first quarter, with sales up 8.7% to the end of March, according to the Asociación Mexicana de Distribuidores de Automotores (AMDA). Total sales were 9,740 units to the end of March, with demand for tractors, cargo and passenger units was up 12.2%, 8.3% and 0.4% respectively.

UK asset finance market grows by 15% in February

Asset finance new business (primarily leasing and hire purchase) grew by 15% in February compared to the same month last year, according to new figures from the Finance & Leasing Association (FLA). The commercial vehicle finance and IT equipment finance sectors reported new business growth in February of 36% and 10% respectively, compared with the same month in 2018, while business equipment finance grew by 8% over the same period.

UK asset finance market grows by 15% in February

Apr 05, 2019

Asset finance new business (primarily leasing and hire purchase) grew by 15% in February compared to the same month last year, according to new figures from the Finance & Leasing Association (FLA). The commercial vehicle finance and IT equipment finance sectors reported new business growth in February of 36% and 10% respectively, compared with the same month in 2018, while business equipment finance grew by 8% over the same period.

UK asset finance market up by 9% in January

Asset finance new business (primarily leasing and hire purchase) grew by 9% in January, compared with the same month last year, according to new figures from the Finance and Leasing Association. The strongest new business growth came from the plant and machinery finance and IT equipment finance sectors, which rose 26% and 45% respectively, compared to the same month in 2018. Over the same period, commercial vehicle finance increased by 21%.

UK asset finance market up by 9% in January

Mar 08, 2019

Asset finance new business (primarily leasing and hire purchase) grew by 9% in January, compared with the same month last year, according to new figures from the Finance and Leasing Association. The strongest new business growth came from the plant and machinery finance and IT equipment finance sectors, which rose 26% and 45% respectively, compared to the same month in 2018. Over the same period, commercial vehicle finance increased by 21%.

UK used car market drops in 2018 but demand for alternatively-fuelled vehicles leaps 27%

Britain’s used car market dropped slightly last year, although sales were still the third highest on record. In total, there were nearly 8 million used car transactions last year, a fall of just over 2.1%, according to new figures from the Society of Motor Manufacturers and Traders.

UK used car market drops in 2018 but demand for alternatively-fuelled vehicles leaps 27%

Feb 18, 2019

Britain’s used car market dropped slightly last year, although sales were still the third highest on record. In total, there were nearly 8 million used car transactions last year, a fall of just over 2.1%, according to new figures from the Society of Motor Manufacturers and Traders.