Finance & Leasing Association7 August 2014
New figures released today by the Finance & Leasing Association (FLA) show new business in the asset finance market up by 6% in June compared with the same month in 2013, and up by 10% in the first half of this year.
The continuing broad-based recovery is evidenced by solid performances in plant and machinery and commercial vehicle finance, with growth of 19% and 18% in the first half of 2014.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The first six months of 2014 have seen sustained growth in asset finance which has helped support the recovery in key sectors of the economy. So far this year, more than 60% of asset finance new business went to support business investment by SMEs.”
|
|
Jun 2014 |
% change on Jun 2013 |
3 months to Jun 2014 |
% change on prev. year |
12 months to Jun 2014 |
% change on prev. year |
| Total FLA asset finance (£m) |
2,162 |
+6 |
6,203 |
+7 |
23,478 |
+8 |
| Total excluding high value (£m) |
2,132 |
+13 |
6,064 |
+8 |
22,875 |
+9 |
|
|
||||||
| Data Extracts: |
||||||
| Plant and machinery finance (£m) |
495 |
+16 |
1,359 |
+17 |
4,893 |
+14 |
| Commercial vehicle finance (£m) |
488 |
+5 |
1,448 |
+17 |
5,641 |
+19 |
| IT equipment finance (£m) |
188 |
-3 |
368 |
-24 |
1,458 |
-1 |
| Business equipment finance (£m) |
224 |
-1 |
564 |
-3 |
1,999 |
+4 |
| Car finance (£m) |
604 |
+6 |
1,881 |
+2 |
6,909 |
+3 |
| Aircraft, ships and rolling stock finance (£m) |
9 |
-60 |
61 |
-8 |
269 |
-43 |
Note to editors:
- In 2013 FLA members provided £89.0 billion of new finance to UK businesses and households. £22.4 billion of finance was provided to businesses and the public sector, representing almost 30% of all fixed capital investment (excluding real property and own-account software) in the UK last year.
