The consumer used car finance market saw growth strengthen in February as new business volumes increased by nine per cent compared with the same month in 2014.
Consumer new car finance volumes fell by three per cent in February, but remained nine per cent up in the 12 months to February 2015. The percentage of private new car sales financed by FLA members through dealerships stood at 76 per cent in the 12 months to February 2015.
Geraldine Kilkelly, head of research and chief economist at the FLA, said: ‘The point-of-sale consumer car finance market has reported growth each month for almost four years.
‘The FLA’s Q1 2015 retail motor finance confidence survey shows that the majority of respondents expect single-digit growth in new business over the next twelve months.’
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