Finance & Leasing Association11 January 2019
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 |
Note to editors:
1. In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £96 billion of this was in the form of consumer credit, over a third of total new consumer credit written in the UK in 2017. £44 billion of it supported the purchase of new and used cars, including over 88% of private new car registrations.
2. For media enquiries, please contact the FLA press office on 020 7420 9656.
