Finance & Leasing Association16 January 2014
Figures released today by the Finance & Leasing Association (FLA) show new finance provided for business investment in commercial vehicles was £458 million in November 2013, 18% higher than in the same month in 2012. November 2013 also saw the business equipment finance sector return to growth, with new business up 8% to £151 million, compared with the same month in 2012. Overall, asset finance new business grew by 2% in November to almost £1.8 billion and by a similar rate in the year to November.
Commenting, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA said: “The growth of the commercial vehicle and business equipment finance sectors reflects the positive news from recent business surveys showing strengthening investment intentions. “The most recent business investment data suggest that the annual percentage of fixed capital investment1 financed by the asset finance industry has grown from a low of 25.1% in 2010 to 29.0% in the twelve months to September 2013.”
| Nov 2013 |
% change on Nov 2012 |
3 months to Nov 2013 |
% change on prev. year |
12 months to Nov 2013 |
% change on prev. year |
|
| Total FLA asset finance (£m) | 1,783 |
+2 |
5,849 |
+4 |
21,704 |
-1 |
| Total leasing and hire purchase excluding high value (£m) | 1,718 |
0 |
5,573 |
+2 |
21,046 |
0 |
| Data Extracts: | ||||||
| Plant and machinery finance (£m) | 342 |
-7 |
1,108 |
+4 |
4,391 |
+2 |
| Commercial vehicle finance (£m) | 458 |
+18 |
1,416 |
+11 |
4,866 |
+3 |
| IT equipment finance (£m) | 87 |
-10 |
328 |
+6 |
1,486 |
+7 |
| Business equipment finance (£m) | 151 |
+8 |
452 |
-4 |
1,872 |
-5 |
| Car finance (£m) | 526 |
-7 |
1,753 |
-2 |
6,637 |
0 |
| Aircraft, ships and rolling stock finance (£m) | 76 |
+39 |
108 |
-44 |
285 |
-45 |
Note to editors:
- Excludes real property and own-account software.
- In 2012 FLA members provided £80.2 billion of new finance to UK businesses and households. £21.5 billion of finance was provided to businesses and the public sector, representing around 28% of all fixed capital investment (excluding real property and own-account software) in the UK last year.
