Category: News Type

Consumer finance up 4% in August

6 October 2017
New figures released today by the Finance & Leasing Association (FLA) show that consumer finance new business in August grew by 4% compared with the same month last year.
Credit card and personal loan new business together grew by 4% compared with August 2016, while retail store and online credit new business increased by 7%. Second charge mortgage new business increased 25% by value and 11% by volume over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The modest growth in consumer finance new business overall in August reflects subdued consumer confidence about the general economic outlook.
“New business grew by 6% in the first eight months of this year, which is in line with single-digit growth expectations for UK new consumer credit in 2017 as a whole.”
Table 1: New consumer credit lending
Aug 2017
% change on prev. year
3 months to Aug 2017
% change on prev. year
12 months to Aug 2017
% change on prev. year
Total FLA consumer finance (£m)
7,155
+4
22,470
+8
91,582
+6
Data extracts:
Retail store and online credit (£m)
501
+7
1,589
+7
6,668
+2
Credit cards & personal loans (£m)
4,038
+4
11,997
+10
46,872
+7
Second charge mortgages (£m)
91
+25
274
+27
974
+10
Car finance (£m)
2,101
+6
7,416
+7
32,924
+7
Note to editors:
FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.In 2016, FLA members provided £118 billion of new finance to UK businesses and households. £88 billion of this was in the form of consumer credit representing over a third of total new consumer credit written in the UK in 2016.For media enquiries, please contact the FLA press office on 020 7420 9656.

Continued growth in asset finance

6 October 2017
New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 3% in August, compared with the same month last year.
The plant and machinery finance sector reported new business up in August by 4% compared with the same month in 2016, while new finance for business equipment was up by 8% over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The asset finance industry has reported solid new business growth so far in 2017. Growth in asset finance provided to manufacturers has been particularly robust, with new business for production and processing plant up by more than 40% in the first eight months of 2017.”
Aug 2017
% change on prev. year
3 months to Aug
2017
% change on prev. year
12 months to Aug
2017
% change on prev. year
Total FLA asset finance (£m)
2,204
+3
7,957
+6
31,803
+6
Total excluding high value (£m)
2,163
+4
7,726
+10
30,643
+7
Data Extracts:
By asset:
Plant and machinery finance (£m)
502
+4
1,773
+21
6,546
+14
Commercial vehicle finance (£m)
513
-7
1,771
+1
7,479
+2
IT equipment finance (£m)
171
-3
595
+3
2,224
-2
Business equipment finance (£m)
187
+8
694
+10
2,567
+14
Car finance (£m)
613
+10
2,452
+9
9,842
+7
Aircraft, ships and rolling stock finance (£m)
7
-76
27
-82
611
+12
By channel:
Direct finance (£m)
1,108
+2
4,041
+9
15,571
+6
Broker-introduced finance (£m)
453
+7
1,385
+7
5,744
+16
Sales finance (£m)
602
+7
2,300
+12
9,327
+6
By product:
Finance leasing (£m)
272
0
989
+5
4,018
-2
Operating leasing (£m)
470
+4
1,687
+9
7,107
+8
Lease/Hire purchase (£m)
1,194
+3
4,201
+7
16,618
+9
Other finance (£m)
268
+4
1,080
0
4,059
+3
Note to editors:
In 2016, FLA members provided £118 billion of new finance to UK businesses and households. £30 billion of finance was provided to businesses and the public sector. FLA members financed more than a third of UK investment in machinery, equipment and purchased software in the UK in 2016.For media enquiries, please contact the FLA press office on 020 7420 9656.

Consumer new car finance volumes down 8%

6 October 2017
New figures released today by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market fell by 8% in August, compared with the same month in 2016, while the value of new business was up by 2% over the same period.
The percentage of private new car sales financed by FLA members through the POS held steady at 86.0% in the twelve months to August.
The POS consumer used car finance market reported new business in August up 8% by value and 2% by volume, compared with the same month last year.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The August figures reported by the POS consumer new car finance market are in line with wider trends in private new car sales. These trends are not unexpected given the strength of the market in recent years and subdued consumer confidence about the general economic outlook.
“New business volumes in the POS consumer car finance market overall were stable in the first eight months of 2017 compared with the same period in 2016.”
Table 1: Cars bought on finance by consumers through dealerships
New business
Aug 2017
% change on prev. year
3 months to Aug 2017
% change on prev. year
12 months to Aug 2017
% change on prev. year
New cars
Value of advances (£m)
817
+2
3,561
+2
18,356
+4
Number of cars
45,728
-8
191,258
-7
1,002,368
-3
Used cars
Value of advances (£m)
1,284
+8
3,855
+12
14,568
+10
Number of cars
113,221
+2
339,625
+6
1,301,475
+5
Table 2: Cars bought on finance by businesses
New business
Aug 2017
% change on prev. year
3 months to Aug 2017
% change on prev. year
12 months to Aug 2017
% change on prev. year
New cars
Number of cars
30,146
+3
132,405
+5
513,616
0
Used cars
Number of cars
5,293
+51
17,534
+54
58,848
+35
Note to editors:
In 2016, FLA members provided £118 billion of new finance to UK businesses and households. £88 billion of this was in the form of consumer credit, over a third of total new consumer credit written in the UK in 2016. £41 billion of it supported the purchase of new and used cars, including over 86% of private new car registrations.2. For media enquiries, please contact the FLA press office on 020 7420 9656.

China’s Used Car Deals Speed Up As Didi Chuxing Invests $200M In Renrenche.com

Didi Chuxing has bought US$200 million worth of shares in Beijing-based second-hand car marketplace Renrenche.com in a strategic investment, marking the latest investment deal in China’s fast moving online used-car market, according to Didi’s announcement. The funding is a boost for Renrenche, as its three top competitors have each raised money recently. Uxin Group, Guazi.com… Continue reading China’s Used Car Deals Speed Up As Didi Chuxing Invests $200M In Renrenche.com

Chinese Bike Rental Firm Youon’s Subsidiary Raises $123M From Ant Financial And Others

Chinese bike rental company Youon Bike said one of its subsidiaries has agreed to raise RMB810 million (US$123 million) from eight investors including a unit of Ant Financial. The proceeds will be used to finance its wholly-owned subsidiary Jiangsu Yonganxing Low Carbon Technology Co. to further expand in the GPS-powered station-less bike sharing operations, according… Continue reading Chinese Bike Rental Firm Youon’s Subsidiary Raises $123M From Ant Financial And Others

BMW are less subsidized for plant in Leipzig to

Tuesday, 09/12/2017 12:51 clock BMW stand for the production of electric cars in Leipzig, according to a ruling of the EU court less subsidies than announced. Instead of a regional investment subsidy of 45 million euros, the state could only help with 17 million euros, judges ruled in Luxembourg. The court followed the view of… Continue reading BMW are less subsidized for plant in Leipzig
to