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NEW figures released by the Finance and 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.

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.”

Table 1: Cars bought on finance by consumers through dealerships
New business Jun 2018 % change on prev. year 3 months to Jun 2018 % change on prev. year 12 months to Jun 2018 % change on prev. year
New cars
Value of advances (£m) 1,717 +9 4,962 +18 19,479 +4
Number of cars 83,470 +1 243,495 +12 978,713 -6
Used cars
Value of advances (£m) 1,460 +11 4,562 +16 16,528 +13
Number of cars 119,903 +4 383,302 +10 1,412,991 +7
Total cars
Value of advances (£m) 3,176 +10 9,524 +17 36,007 +8
Number of cars 203,373 +3 626,797 +11 2,391,704 +2

 

Table 2: Cars bought on finance by businesses
New business Jun 2018 % change on prev. year 3 months to Jun 2018 % change on prev. year 12 months to Jun 2018 % change on prev. year
New cars
Number of cars 40,691 -22 126,092 -6 449,903 -7
Used cars
Number of cars 5,087 -4 13,615 +17 63,428 +11

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