Asset Finance


Consumer Finance


Motor Finance


Asset finance up by 6% in May

9 July 2015

New figures released today by the Finance & Leasing Association (FLA) show 6% growth in asset finance new business (primarily leasing and hire purchase) in May, compared with the same month last year.

IT equipment finance saw growth of 39% in May, while in the same period, plant and machinery finance and car finance grew by 6% and 21% respectively.

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

“The asset finance market has recorded its strongest start to a year since the financial crisis, with new business up by 16% in the first five months of 2015.

“Recent research by Oxford Economics showed just how important the asset finance industry is to the UK economy. In 2014, it funded almost 28% of all UK investment in ICT equipment, software, transport equipment and other machinery and supported 84,000 UK jobs.”

May

2015

% change on prev. year

3 months to May 2015

% change on prev. year

12 months to May 2015

% change on prev. year

Total FLA asset finance (£m)

2,151

+6

7,789

+18

27,665

+15

Total excluding high value (£m)

2,118

+6

7,541

+16

26,641

+14

Data Extracts:

Plant and machinery finance (£m)

458

+6

1,572

+15

5,667

+17

Commercial vehicle finance (£m)

481

-3

1,808

+13

6,288

+8

IT equipment finance (£m)

143

+39

481

+46

1,891

+29

Business equipment finance (£m)

139

-20

532

-1

2,210

10

Car finance (£m)

780

+21

2,676

+23

8,633

+18

Aircraft, ships and rolling stock finance (£m)

14

-60

192

+225

450

+59

Note to editors:

  1. An executive summary of the Oxford Economics research, measuring FLA members’ contribution to the UK economy, can be found on the website.
  1. Oxford Economics is one of the world’s foremost independent global advisory firms, using industry models and analytical tools to provide reports and forecast trends.
  1. In 2014, FLA members provided £100 billion of new finance to UK businesses and households. £26 billion of finance was provided to businesses and the public sector. FLA members finance more than 27% of UK investment in machinery, equipment and purchased software in the UK last year.