4 June 2015
Figures released today by the Finance & Leasing Association (FLA) show growth of 20% in asset finance new business in April 2015, compared with the same month last year.
Plant and machinery finance and business equipment finance each grew by 12% in April, and IT equipment finance increased by 78%.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The asset finance market reported another month of strong growth in April. Through the provision of leasing and hire purchase, FLA members financed 28.3% of UK investment in machinery, equipment and purchased software in the twelve months to March 2015, up from 27.1% in the same period in 2014.”
New Business
|
Apr 2015 |
% change on prev. year |
3 months to Apr 2015 |
% change on prev. year |
12 months to Apr 2015 |
% change on prev. year |
Total FLA asset finance (£m) |
2,540 |
+20 |
7,511 |
+21 |
27,551 |
+15 |
Total excluding high value (£m) |
2,483 |
+22 |
7,188 |
+18 |
26,530 |
+14 |
Data Extracts: |
||||||
Plant and machinery finance (£m) |
494 |
+12 |
1,529 |
+13 |
5,640 |
+17 |
Commercial vehicle finance (£m) |
591 |
+18 |
1,762 |
+17 |
6,301 |
+10 |
IT equipment finance (£m) |
137 |
+78 |
513 |
+60 |
1,851 |
+22 |
Business equipment finance (£m) |
188 |
+12 |
546 |
+8 |
2,244 |
+12 |
Car finance (£m) |
895 |
+27 |
2,354 |
+20 |
8,495 |
+16 |
Aircraft, ships and rolling stock finance (£m) |
39 |
+112 |
231 |
+345 |
470 |
+83 |
Note to editors:
- 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 financed more than 27% of UK investment in machinery, equipment and purchased software in the UK last year.