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.
New business volumes in the point of sale (POS) consumer new car finance market fell by 2% in August, compared with the same month in 2018.
The value of new business grew by 2% over the same period.
New figures released today by the Finance & Leasing Association (FLA) show that the percentage of private new car sales financed by FLA members through the POS remained at 91.2% in the twelve months to August 2019.
The used car finance market reported that new business fell 2% by volume and 1% by value in August, compared with the same month last year.
Geraldine Kilkelly, head of research and chief economist at the FLA, said “The POS consumer new car finance market reported a modest fall in new business volumes in August, as the market continued to track private new car sales.
“New business volumes in the POS consumer car finance market overall fell by 1% in the eight months to August, in line with expectations.”
| Table 1: Cars bought on finance by consumers through the point of sale | ||||||
| New business | Aug 2019 | % change on prev. year | 3 months to Aug 2019 | % change on prev. year | 12 months to Aug 2019 | % change on prev. year |
| New cars | ||||||
| Value of advances (£m) | 991 | +2 | 4,070 | 0 | 19,364 | -2 |
| Number of cars | 49,762 | -2 | 198,734 | -2 | 940,281 | -5 |
| Used cars | ||||||
| Value of advances (£m) | 1,524 | -1 | 4,633 | +2 | 18,057 | +5 |
| Number of cars | 125,497 | -2 | 379,467 | +1 | 1,472,739 | +2 |
| Total cars | ||||||
| Value of advances (£m) | 2,515 | 0 | 8,703 | +1 | 37,420 | +2 |
| Number of cars | 175,259 | -2 | 578,201 | 0 | 2,413,020 | -1 |
| Table 2: Cars bought on finance by businesses | ||||||
| New business | Aug 2019 | % change on prev. year | 3 months to Aug 2019 | % change on prev. year | 12 months to Aug 2019 | % change on prev. year |
| New cars | ||||||
| Number of cars | 23,289 | -11 | 100,321 | -1 | 396,261 | -6 |
| Used cars | ||||||
| Number of cars | 5,083 | +25 | 14,719 | +17 | 62,503 | +15 |