Consumer car finance new business volumes up by 3% in June

Consumer car finance new business volumes up by 3% in June

Posted 15 August, 2018 at 20:52

Author Mark Bradshaw on behalf of Pronounce Concierge Service


New figures released today by the Finance & Leasing Association (FLA) show that point of sale (POS) consumer new car finance business volumes grew by 1% in June, compared with the same month in 2017, while the value of new business was up by 9%.

The percentage of private new car sales financed by FLA members through the POS was 89.5% in the twelve months to June.

In the POS consumer used car finance market, new business was up 4% by volume and 11% by value in June, compared with the same month in 2017.

Commenting on the 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.”

Table 1: Cars bought on finance by consumers through dealerships

New business

Jun 2018

% change on prev. year

3 months to Jun 2018

% change on prev. year

12 months to Jun 2018

% change on prev. year

New cars

Value of advances (£m)

1,717

+9

4,962

+18

19,479

+4

Number of cars

83,470

+1

243,495

+12

978,713

-6

Used cars

Value of advances (£m)

1,460

+11

4,562

+16

16,528

+13

Number of cars

119,903

+4

383,302

+10

1,412,991

+7

Total cars

Value of advances (£m)

3,176

+10

9,524

+17

36,007

+8

Number of cars

203,373

+3

626,797

+11

2,391,704

+2

Table 2: Cars bought on finance by businesses

New business

Jun 2018

% change on prev. year

3 months to Jun 2018

% change on prev. year

12 months to Jun 2018

% change on prev. year

New cars

Number of cars

40,691

-22

126,092

-6

449,903

-7

Used cars

Number of cars

5,087

-4

13,615

+17

63,428

+11

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