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|Consumer car finance volumes down 2% in February|
|Friday, 07 April 2017|
New figures released today by the Finance & Leasing Association (FLA) show that the point of sale (POS) consumer car finance market reported new business volumes down 2% in February, compared with the same month in 2016, while the value of new business was up by 2% over the same period.
New business in the POS consumer new car finance market fell 3% by volume in February, while the value of new business was at a similar level to the same month in 2016.
The percentage of private new car sales financed by FLA members through the POS was 86.5% in the twelve months to February, unchanged compared with the same period to January.
New business in the POS consumer used car finance market fell 1% by volume in February, while the value of new business grew by 3%.
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 modest growth in new business volumes of 3% in the first two months of 2017. This is in line with the industry’s expectations of single-digit growth in the year overall.”
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