Category: News Type

15 August 2018
New figures released today by the Finance & 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.
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 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
Note to editors:
In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £96 billion of this was in the form of consumer credit, over a third of total new consumer credit written in the UK in 2017. £44 billion of it supported the purchase of new and used cars, including over 88% of private new car registrations.For media enquiries, please contact the FLA press office on 020 7420 9656.