Finance & Leasing Association4 June 2015
Figures released today by the Finance & Leasing Association (FLA) show consumer new car finance up 11% by volume and 17% by value in April, compared with the same month last year.
The percentage of private new car sales financed by FLA members through dealerships reached 77.3%, a new record.
Consumer used car finance saw continued strong growth in April, up 15% by volume and 18% by value.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The new number plates in March may have contributed to the strongest rate of growth so far this year in April.”
| Table 1: Cars bought on finance by consumers through dealerships |
|
|
||||
| Apr 2015 |
% change on prev. year |
3 months to Apr 2015 |
% change on prev. year |
12 months to Apr 2015 |
% change on prev. year |
|
| New cars |
|
|
|
|
|
|
| Value of advances (£m) |
1,245 |
+17 |
4,616 |
+14 |
14,639 |
+14 |
| Number of cars |
75,929 |
+11 |
285,846 |
+8 |
916,160 |
+9 |
| Used cars |
|
|
|
|
|
|
| Value of advances (£m) |
1,058 |
+19 |
3,107 |
+16 |
11,131 |
+16 |
| Number of cars |
101,506 |
+15 |
299,262 |
+12 |
1,080,600 |
+11 |
| Table 2: Cars bought on finance by businesses |
|
|
|
|
||
| Apr 2015 |
% change on prev. year |
3 months to Apr 2015 |
% change on prev. year |
12 months to Apr 2015 |
% change on prev. year |
|
| New cars |
|
|
|
|
|
|
| Number of cars |
52,409 |
+29 |
134,604 |
+15 |
498,938 |
+13 |
| Used cars |
|
|
|
|
|
|
| Number of cars |
3,080 |
-31 |
10,436 |
-1 |
40,398 |
-18 |
ENDS
Note to editors:
1. In 2014, FLA members provided £100 billion of new finance to UK businesses and households. £74 billion of this was in the form of consumer credit, over a third of total new consumer credit written in the UK last year. £32.7 billion of it supported the purchase of new and used cars, including over three-quarters of private new car registrations.
