Motor Trader The award-winning and longest running UK magazine for car retailing professionals. Your first stop for News, Jobs and Reports for the motor industry.
The Finance & Leasing Association (FLA) has released figures showing that point of sale (POS) new car consumer finance business increased by 1% in June, compared with year-on-year figures from the same month in 2017.
The FLA has also noted that the value of new business was up 9% over the same period.
According to the FLA, the percentage of private new car sales financed by its members through POS was 89.5% in the 12 month-period through June.
In July, Motor Trader reported that dealer new car finance grew 15% by value and 10% by volume in May 2018 in comparison with year-on-year figures.
In the POS consumer used car finance market, year-on-year new business for June 2018 was up 4% by volume and 11% by value.
Commenting on the released figures, Geraldine Kilkelly, head of Research and chief economist at the FLA said: “The point of sale consumer car finance market reported new business volumes up in the first half of 2018 by 4% compared with the same period in 2017. This was in line with expectations, with a modest fall in consumer new car finance volumes offset by single-digit new business growth in the consumer used car finance market.”
Tables outlining full details of the report are available from the FLA (click here)