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Commercial Credit News
|Steady growth in consumer car finance|
|Friday, 11 December 2015|
New figures released today by the Finance & Leasing Association (FLA) show that the point-of-sale consumer new car finance market saw new business growth of 6% by volume and 13% by value in October, compared with the same month last year.
The percentage of private new car sales financed by FLA members through dealerships reached 80.1% in the twelve months to October, up from 79.6% in the twelve months to September.
The point-of-sale consumer used car finance market also reported new business growth in October, of 7% by volume and 10% by value.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said: “Point-of-sale consumer car finance volumes have grown by 8% so far in 2015. The FLA’s Q4 2015 Retail Motor Finance Survey shows that member companies expect further single-digit new business growth in 2016 in both the new and used car finance markets.”
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