The latest figures released 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”.
For more information e-mail email@example.com