Motor Finance

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 research@fla.org.uk

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