New figures released today by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market increased 1% by volume and 6% by value in January, compared with the same month in 2018.

 The POS consumer new car finance market reported new business volumes up by 4% in January, compared with the same month in 2018, while the value of new business increased by 8% over the same period.

 The percentage of private new car sales financed by FLA members through the POS was 91.2%% in the twelve months to January 2019, unchanged on the same period to December 2018.

 The POS consumer used car finance market reported new business volumes in January at a similar level to the same month in 2018, while the value of new business increased by 5% over the same period.

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

 “The POS consumer car finance market reported modest growth in new business volumes in January, with consumer confidence hit by continued Brexit-related uncertainty.

 “The market is likely to report new business volumes stable in 2019 as a whole if we see a pick-up in the economic outlook”.

Note to editors:

1. In 2018, FLA members provided £137 billion of new finance to UK businesses and households. £104 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.