Latest News Headlines
Commercial Credit News
|Consumer car finance volumes up 8% in 2016|
|Friday, 10 February 2017|
New figures released today by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market grew 12% by value and 8% by volume in 2016. New business was up 3% by value and down 3% by volume in December, compared with the same month in 2015.
The POS consumer new car finance market reported new business up 1% by value and 8% lower by volume in December compared with the same month in 2015. In 2016 as a whole, new business grew 12% by value and 6% by volume.
The percentage of private new car sales financed by FLA members through the POS reached 86.6% in 2016, up from 81.4% in 2015.
The POS consumer used car finance market reported new business growth in December of 7% by value and 2% by volume. In 2016 as a whole, new business grew 12% by value and 9% by volume.
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 another record year in 2016, with new business volumes reaching 2.3 million cars. Our latest confidence survey suggests broadly stable new business volumes in 2017.”
Forums International Ltd
Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.
Find out more here.
The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.
CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.
As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.
Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.
GTS Media Ltd
81 Cambridge Road
Registered in England No: 05483197