Consumer car finance market falls by 1% in November

Consumer car finance market falls by 1% in November

Posted 11 January, 2019 at 15:54

Author Mark Bradshaw on behalf of (IFM) Independent Forecourt Magazine


New figures released today by the Finance & Leasing Association (FLA) show that the point of sale (POS) consumer car finance market fell by 1% in November, compared with the same month in 2017.

The percentage of private new car sales financed by FLA members through the POS was 91.2% in the twelve months to November.

The POS consumer used car finance market reported new business in November up 5% by value, while volumes remained at a similar level to the same month in 2017.

Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:

“The POS consumer car finance market is on course for single-digit new business volumes growth in 2018 as a whole, despite the quieter performance of the market in November.”

Table 1: Cars bought on finance by consumers through dealerships

 

 

New business

Nov 2018

% change on prev. year

3 months to Nov 2018

% change on prev. year

12 months to Nov 2018

% change on prev. year

New cars

 

 

 

 

 

 

Value of advances (£m)

1,411

0

5,418

-6

19,378

+2

Number of cars

67,936

-2

263,085

-9

961,990

-3

Used cars

 

 

 

 

 

 

Value of advances (£m)

1,350

+5

4,400

+9

17,463

+13

Number of cars

108,012

0

355,868

+4

1,454,568

+7

Total cars

 

 

 

 

 

 

Value of advances (£m)

2,761

+2

9,818

0

36,841

+7

Number of cars

175,948

-1

618,953

-2

2,416,558

+3

 

Table 2: Cars bought on finance by businesses

 

 

 

 

New business

Nov 2018

% change on prev. year

3 months to Nov 2018

% change on prev. year

12 months to Nov 2018

% change on prev. year

New cars

 

 

 

 

 

 

Number of cars

28,820

-13

89,801

-23

412,982

-13

Used cars

 

 

 

 

 

 

Number of cars

5,226

+20

19,223

+58

60,552

+6

 

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