Consumer new car finance volumes down eight per cent, reports FLA

Consumer new car finance volumes down eight per cent, reports FLA

NEW figures released today by the Finance & Leasing Association show that new business volumes in the point-of-sale consumer new car finance market fell by eight per cent in November, compared with the same month in 2016.

However, the value of new business increased by two per cent over the same period.

The percentage of private new car sales financed by FLA members through the point of sale (POS) was 85.9 per cent in the 12 months to November, compared with 86.1 per cent in the same period to October.

The POS consumer used car finance market reported new business in November up 16 per cent by value and 10 per cent by volume, compared with the same month in 2016.

Geraldine Kilkelly, pictured, head of research and chief economist at the FLA, said: ‘The POS consumer car finance market remains on target to report new business volumes of 2.3 million in 2017 as a whole – a similar level to 2016.

‘The performance of the POS consumer new car finance market in November continued to reflect trends in private new car sales. FLA members’ penetration of this market has held steady over the past year at around 86 per cent.’

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