9:18 am, June 6, 2014
FIGURES just released by the Finance & Leasing Association (FLA) show a growth of four per cent in consumer new car finance volumes during April, compared with the same month last year.
The used car finance market reported nine per cent growth in new business volumes over the same period.
The annual percentage of private new car sales financed by FLA members has been stable over the past ten months at around 75 per cent. In the 12 months to April 2014, it was exactly 75 per cent, up slightly from 74.8 per cent in March.
Geraldine Kilkelly, head of research and chief economist, said: ‘April was a quieter month for the car finance market following a strong performance in March. Consumer car finance growth remained robust.
‘FLA motor finance providers are optimistic. The Q2 2014 Retail Motor Finance Survey results showed that more than 60 per cent of respondents expected new business growth in excess of 10 per cent in each of the new car, used car and light commercial vehicle finance markets over the next year.’
