New figures released today by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market grew 4% by volume and 7% by value in September, compared with the same month in 2018.  In Q3 2019 as a whole, new business grew 3% by volume and 5% by value.

The value of new business in the POS consumer new car finance market grew by 5% in September compared with the same month in 2018, while new business volumes fell by 1% over the same period.

The percentage of private new car sales financed by FLA members through the POS was 91.1% in the twelve months to September 2019.

The POS consumer used car finance market reported new business in September up 12% by value and 9% by volume, compared with the same month in 2018. In Q3 2019 as a whole, new business increased 6% by value and 5% by volume compared with Q3 2018.

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

“In September, the POS consumer used car finance market reported its strongest growth since August 2018, which contributed to an increase in new business volumes of 5% in Q3 2019 as a whole.

 “The POS consumer car finance market overall reported stable new business volumes in the first nine months of 2019, in line with expectations.”

 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.