11 January 2018
New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) in November was £2.5 billion, a similar level to the same month in 2016.
The commercial vehicle finance and IT equipment finance sectors reported new business up in November by 5% and 1% respectively, compared with the same month in 2016, while new finance for plant and machinery fell by 3% over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The asset finance market reported a broadly stable picture across the main asset sectors in November, and remains on course to report a record level of annual new business in 2017 of around £32 billion. This would represent new business growth of 6% compared with 2016, in line with expectations.”
|
Nov 2017 |
% change on prev. year |
3 months to Nov 2017 |
% change on prev. year |
12 months to Nov 2017 |
% change on prev. year |
|
|
Total FLA asset finance (£m) |
2,541 |
0 |
7,962 |
0 |
31,804 |
+4 |
|
Total excluding high value (£m) |
2,531 |
+4 |
7,936 |
+3 |
30,919 |
+6 |
|
Data Extracts: By asset: |
||||||
|
Plant and machinery finance (£m) |
481 |
-3 |
1,464 |
-2 |
6,506 |
+10 |
|
Commercial vehicle finance (£m) |
691 |
+5 |
2,061 |
+4 |
7,574 |
+2 |
|
IT equipment finance (£m) |
235 |
+1 |
642 |
+5 |
2,246 |
-4 |
|
Business equipment finance (£m) |
209 |
-4 |
624 |
+4 |
2,566 |
+9 |
|
Car finance (£m) |
738 |
-2 |
2,538 |
-1 |
9,854 |
+5 |
|
Aircraft, ships and rolling stock finance (£m) |
8 |
-60 |
45 |
-45 |
574 |
+18 |
|
By channel: |
||||||
|
Direct finance (£m) |
1,186 |
-2 |
3,864 |
0 |
15,595 |
+3 |
|
Broker-introduced finance (£m) |
526 |
+14 |
1,551 |
+7 |
5,868 |
+13 |
|
Sales finance (£m) |
818 |
+9 |
2,521 |
+7 |
9,456 |
+7 |
|
By product: |
||||||
|
Finance leasing (£m) |
286 |
-9 |
959 |
-2 |
3,948 |
-4 |
|
Operating leasing (£m) |
607 |
+3 |
1,816 |
-2 |
7,143 |
+6 |
|
Lease/Hire purchase (£m) |
1,371 |
-2 |
4,325 |
+3 |
16,745 |
+7 |
|
Other finance (£m) |
276 |
+11 |
862 |
-9 |
3,968 |
-4 |
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.