Asset finance market rebounds in April

New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 7% in April, compared with the same month in 2017.

New business in the plant and machinery finance and business equipment finance sectors was up by 13% and 18% respectively, while commercial vehicle finance new business increased by 13% over the same period.

Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said: “The recovery in asset finance new business in April was broad-based. The manufacturing, agricultural and construction equipment finance sectors each reported strong growth, with new business up by 61%, 35% and 27% respectively, compared with April 2017.”