Finance & Leasing Association7 June 2019
New figures released today by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer new car finance market fell 2% by value and 7% by volume in April, compared with the same month in 2018.
The percentage of private new car sales financed by FLA members through the POS was 91.0% in the twelve months to April 2019.
The POS consumer used car finance market reported new business growth in April of 4% by value and 1% by volume.
Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“Trends in the POS consumer new car finance market continued to reflect private new car sales. Subdued consumer confidence has also contributed to a slowdown in the POS consumer used car finance market in recent months.”
“However, new business volumes overall in the first four months of 2019 held steady compared with the same period in 2018.
| Table 1: Cars bought on finance by consumers through dealerships |
|
|
||||
| New business |
Apr 2019 |
% change on prev. year |
3 months to Apr 2019 |
% change on prev. year |
12 months to Apr 2019 |
% change on prev. year |
| New cars |
|
|
|
|
|
|
| Value of advances (£m) |
1,603 |
-2 |
5,849 |
-2 |
19,386 |
+1 |
| Number of cars |
76,042 |
-7 |
285,590 |
-5 |
948,203 |
-2 |
| Used cars |
|
|
|
|
|
|
| Value of advances (£m) |
1,632 |
+4 |
4,768 |
+7 |
17,970 |
+9 |
| Number of cars |
134,073 |
+1 |
388,639 |
+2 |
1,471,512 |
+4 |
| Total cars |
|
|
|
|
|
|
| Value of advances (£m) |
3,236 |
+1 |
10,617 |
+2 |
37,356 |
+5 |
| Number of cars |
210,115 |
-2 |
674,229 |
-1 |
2,419,715 |
+2 |
| Table 2: Cars bought on finance by businesses |
|
|
|
|
||
| New business |
Apr 2019 |
% change on prev. year |
3 months to Apr 2019 |
% change on prev. year |
12 months to Apr 2019 |
% change on prev. year |
| New cars |
|
|
|
|
|
|
| Number of cars |
42,700 |
-3 |
109,657 |
-5 |
398,719 |
-10 |
| Used cars |
|
|
|
|
|
|
| Number of cars |
4,187 |
+17 |
16,858 |
+13 |
59,863 |
+3 |
Note to editors:
1. In 2018, FLA members provided £136 billion of new finance to UK businesses and households. £103 billion of this was in the form of consumer credit, over a third of total new consumer credit written in the UK in 2018. £46 billion of it supported the purchase of new and used cars, including over 91% of private new car registrations.
2. For media enquiries, please contact the FLA press office on 020 7420 9656.
