New figures released today by the Finance & Leasing Association (FLA) show that point of sale (POS) consumer new car finance business volumes grew by 1% in June, compared with the same month in 2017, while the value of new business was up by 9%.
The percentage of private new car sales financed by FLA members through the POS was 89.5% in the twelve months to June.
In the POS consumer used car finance market, new business was up 4% by volume and 11% by value in June, compared with the same month in 2017.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said: “The point of sale consumer car finance market reported new business volumes up in the first half of 2018 by 4% compared with the same period in 2017. This was in line with expectations, with a modest fall in consumer new car finance volumes offset by single-digit new business growth in the consumer used car finance market.”