Finance & Leasing Association15 August 2018
New figures released today by the Finance & Leasing Association (FLA) show that point of sale (POS) consumer new car finance business volumes grew by 1% in June, compared with the same month in 2017, while the value of new business was up by 9%.
The percentage of private new car sales financed by FLA members through the POS was 89.5% in the twelve months to June.
In the POS consumer used car finance market, new business was up 4% by volume and 11% by value in June, compared with the same month in 2017.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The point of sale consumer car finance market reported new business volumes up in the first half of 2018 by 4% compared with the same period in 2017. This was in line with expectations, with a modest fall in consumer new car finance volumes offset by single-digit new business growth in the consumer used car finance market.”
| Table 1: Cars bought on finance by consumers through dealerships |
||||||
| New business |
Jun 2018 |
% change on prev. year |
3 months to Jun 2018 |
% change on prev. year |
12 months to Jun 2018 |
% change on prev. year |
| New cars |
||||||
| Value of advances (£m) |
1,717 |
+9 |
4,962 |
+18 |
19,479 |
+4 |
| Number of cars |
83,470 |
+1 |
243,495 |
+12 |
978,713 |
-6 |
| Used cars |
||||||
| Value of advances (£m) |
1,460 |
+11 |
4,562 |
+16 |
16,528 |
+13 |
| Number of cars |
119,903 |
+4 |
383,302 |
+10 |
1,412,991 |
+7 |
| Total cars |
||||||
| Value of advances (£m) |
3,176 |
+10 |
9,524 |
+17 |
36,007 |
+8 |
| Number of cars |
203,373 |
+3 |
626,797 |
+11 |
2,391,704 |
+2 |
| Table 2: Cars bought on finance by businesses |
||||||
| New business |
Jun 2018 |
% change on prev. year |
3 months to Jun 2018 |
% change on prev. year |
12 months to Jun 2018 |
% change on prev. year |
| New cars |
||||||
| Number of cars |
40,691 |
-22 |
126,092 |
-6 |
449,903 |
-7 |
| Used cars |
||||||
| Number of cars |
5,087 |
-4 |
13,615 |
+17 |
63,428 |
+11 |
Note to editors:
- 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.
- For media enquiries, please contact the FLA press office on 020 7420 9656.
