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Double-digit growth in consumer used car finance in May PDF Print E-mail
Friday, 08 July 2016
New figures released today by the Finance & Leasing Association (FLA) show that the point-of-sale (POS) consumer used car finance market saw new business grow 22% by value and 18% by volume in May, compared with the same month last year. 

The POS consumer new car finance market also reported growth in May, with new business up 14% by value and 8% by volume.

The percentage of private new car sales financed by FLA members through the POS reached 84.3% in the twelve months to May, up from 83.6% in the twelve months to April.

Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said: “The POS consumer car finance market continued to report robust growth in May, as new business volumes overall grew by 14% compared with the same month in 2015. New business volumes in these markets in the first five months of 2016 grew at a similar rate.”

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