The BVRLA has joined with the Road Haulage Association (RHA), Freight Transport Association (FTA), and the National Franchised Dealers Association (NFDA) in raising concerns about the way HGVs are treated in future Clean Air Zones (CAZ). The associations have written a joint letter to Transport Secretary Chris Grayling, calling for Government support in ensuring that… Continue reading BVRLA’s HGV coalition writes to Minister on Clean Air Zones
Category: Trade Body Site
BVRLA raises rental inspection requirements
The BVRLA Rental Committee has asked the association to broaden and tighten the operating standards that are reviewed as part of its inspection regime. The changes will take effect immediately. The move forms part of a wider initiative to help deliver more value to members and derive better customer outcomes. Other changes include the launch… Continue reading BVRLA raises rental inspection requirements
BVRLA Three-Year Plan unveils major investment
The BVRLA has published a Three-Year Plan which shows significant investment being made in the association’s infrastructure, research and internal and external expertise to ensure it can address the unprecedented range of challenges facing the sector. Having a better resourced trade association will enable the BVRLA to have stronger industry representation, be a louder voice… Continue reading BVRLA Three-Year Plan unveils major investment
BVRLA Position Papers summarise policy asks
The BVRLA has produced a set of Position Papers to provide an at-a-glance overview of the association’s view and desired intentions on a range of priority issues including Air Quality, Motor Finance, Taxation and Vehicle Terrorism. These one-page documents contain a brief summary of the issue and make clear what we are asking of policymakers… Continue reading BVRLA Position Papers summarise policy asks
BVRLA Honorary Life President, Freddie Aldous Obituary
Freddie Aldous was a pioneer and innovator in the vehicle rental industry in the UK. He had a long and illustrious career both in the vehicle rental and leasing sector and also in his tireless work for the British Vehicle Rental and Leasing Association (BVRLA) and for European Car and Truck Rental Association (ECATRA). His… Continue reading BVRLA Honorary Life President, Freddie Aldous Obituary
FLA launches Motor Finance Specialist apprenticeship
8 March 2018
The Finance & Leasing Association (FLA), working alongside employers in a Trailblazer group, has today launched its Motor Finance Specialist apprenticeship to offer employment and training opportunities to those entering one of the UK’s fastest growing sectors.
A new section on the FLA’s website provides all the necessary information that firms will need to get their apprenticeship programmes underway – including contact details for three well-established training providers who have already signed up to help employers develop tailor-made courses, along with advice on how to hire apprentices.
The launch of the apprenticeship is the culmination of 18 months of discussions between FLA members, brokers, dealerships and professional bodies, to devise a training programme that matches the specific skills and knowledge required in a market where 88% of private new car purchases are made using motor finance.
The one-to-two-year, Level 3 apprenticeship uses a core curriculum which then branches into options to suit either finance specialists, working for a lender, or retail specialists, who liaise directly with car buyers in the dealerships. The independent assessment process examines a number of areas, including knowledge of the finance products, regulatory compliance and customer service.
Commenting, Adrian Dally, Head of Motor Finance at the FLA, said:
“The Apprenticeship Standard will help to attract new talent who want to build their careers in motor finance. This kind of commitment to the industry is good for competition, customer service and the responsible provision of credit that is central to this market.
“FLA members have a history of investing in training for dealership staff, including development of the Specialist Automotive Finance (SAF) programme that has been running since 2007. We added the more demanding SAF Advanced qualification in 2016, and are now introducing modules to the original SAF programme to ensure there is a SAF training option for every career stage.”
Sue Husband, director, National Apprenticeship Service said:
“Through apprenticeships, we’re making it easier for employers to attract a diverse range of apprentices, helping them to acquire top talent and tackle skills shortages associated with an ageing workforce by training and upskilling. The Motor Finance Specialist Apprenticeship offers the opportunity to specialise in a key growth area of the automotive industry, with learning outcomes spanning the sale of motor finance products, financial regulation and compliance and customer service.
“With recent reforms to apprenticeships firmly focused on improving quality in the system and giving employers the skills they need, there has never been a better time to take on an apprentice.”
Note to editors:
More information on the Motor Finance Specialist Apprenticeship, and the groups we partnered with in its development, can be found here.Training providers 3aaa, Calibre Group Solutions and Simply Academy have signed up to deliver the apprenticeship.The FLA’s SAF initiative has been running since 2017, and was devised to boost professionalism in motor dealerships and increase consumer confidence in car finance.The SAF Advanced course (Certificate for Automotive Finance Specialists (CertAutoFS)) is available on the London Institute of Banking & Finance website. The Finance and Leasing Association is the leading industry body for the asset, consumer and motor finance sectors.In 2017, members provided £44 billion of new finance to help households and businesses purchase cars. Over 88% of all private new car registrations in the UK were financed by FLA members.For media queries, please contact the FLA press office on 020 7420 9656.
Asset finance new business down 6% in quieter September
9 November 2017
New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) fell by 6% in September, compared with the same month last year. In Q3 2017, new business fell by 2% compared with the same quarter in 2016.
While new finance for business equipment grew in September by 4% compared with the same month in 2016, new finance for plant and machinery fell by 8% over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“September was a quieter month for the business car and plant and machinery finance sectors. Nevertheless, the asset finance market has returned a strong performance so far in 2017, with new business overall 6% higher than in the previous year. Over the same period, UK business investment is forecast to have grown by only 2.3%.
“Recent data revisions by the Office for National Statistics suggest that the asset finance industry’s contribution to supporting business investment is even greater than previously thought. FLA calculations show that the industry financed more than 35% of UK investment in machinery, equipment and purchased software in the twelve months to June 2017 – an eight-year high.”
Sep 2017
% change on prev. year
3 months to Sep
2017
% change on prev. year
12 months to Sep
2017
% change on prev. year
Total FLA asset finance (£m)
2,750
-6
7,574
-2
31,611
+5
Total excluding high value (£m)
2,740
-2
7,381
+3
30,579
+6
Data Extracts:
By asset:
Plant and machinery finance (£m)
494
-8
1,537
+5
6,505
+12
Commercial vehicle finance (£m)
711
+1
1,764
-2
7,488
+2
IT equipment finance (£m)
212
-4
549
-5
2,214
-3
Business equipment finance (£m)
219
+4
632
+8
2,567
+12
Car finance (£m)
888
-8
2,396
+2
9,763
+5
Aircraft, ships and rolling stock finance (£m)
20
+24
34
-77
615
+20
By channel:
Direct finance (£m)
1,283
-5
3,711
0
15,506
+4
Broker-introduced finance (£m)
520
-4
1,423
+3
5,723
+12
Sales finance (£m)
937
+3
2,248
+6
9,350
+6
By product:
Finance leasing (£m)
344
-3
941
0
4,000
-3
Operating leasing (£m)
655
-6
1,658
0
7,063
+6
Lease/Hire purchase (£m)
1,434
-2
4,045
+3
16,589
+9
Other finance (£m)
316
-24
930
-21
3,959
-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.
Consumer finance up by 5% in November
11 January 2018
New figures released today by the Finance & Leasing Association (FLA) show consumer finance new business grew in November by 5%, compared with the same month in 2016.
Credit card and personal loan new business together grew by 3% compared with November 2016, while retail store and online credit new business increased by 13%. Second charge mortgage new business increased 3% by value and 2% by volume over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“Growth in retail store and online credit new business in November in part reflects the increase in retail sales reported by household goods stores following Black Friday and Cyber Monday events.
“The growth in consumer finance new business overall in November is in line with the performance of this market over the past twelve months.”
Table 1: New consumer credit lending
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 consumer finance (£m)
8,073
+5
24,913
+6
92,921
+6
Data extracts:
Retail store and online credit (£m)
831
+13
2,009
+8
6,814
+3
Credit cards & personal loans (£m)
4,242
+3
12,175
+6
47,581
+6
Second charge mortgages (£m)
80
+3
242
+8
996
+13
Car finance (£m)
2,621
+8
9,494
+5
33,416
+6
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.
Consumer new car finance volumes down 8% in November
11 January 2018
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 November, compared with the same month in 2016, while the value of new business increased by 2% over the same period.
The percentage of private new car sales financed by FLA members through the POS was 85.9% in the twelve months to November, compared with 86.1% in the same period to October.
The POS consumer used car finance market reported new business in November up 16% by value and 10% by volume, compared with the same month in 2016.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The POS consumer car finance market remains on target to report new business volumes of 2.3 million in 2017 as a whole, a similar level to 2016.
“The performance of the POS consumer new car finance market in November continued to reflect trends in private new car sales. FLA members’ penetration of this market has held steady over the past year at around 86%.”
Table 1: Cars bought on finance by consumers through dealerships
New business
Nov 2017
% change on prev. year
3 months to Nov 2017
% change on prev. year
12 months to Nov 2017
% change on prev. year
New cars
Value of advances (£m)
1,385
+2
5,627
+1
18,413
+2
Number of cars
69,287
-8
284,432
-9
974,049
-7
Used cars
Value of advances (£m)
1,237
+16
3,866
+13
15,003
+11
Number of cars
104,683
+10
331,601
+7
1,322,786
+6
Table 2: Cars bought on finance by businesses
New business
Nov 2017
% change on prev. year
3 months to Nov 2017
% change on prev. year
12 months to Nov 2017
% change on prev. year
New cars
Number of cars
33,630
-17
121,649
-9
504,374
-1
Used cars
Number of cars
5,006
+1
13,395
-2
58,617
+24
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.For media enquiries, please contact the FLA press office on 020 7420 9656.
Consumer new car finance volumes down 7% in October
13 December 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 7% in October, 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 was 86.1% in the twelve months to October, compared with 86.0% in the same period to September.
The POS consumer used car finance market reported new business in October up 15% by value and 9% 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:
“Falls in new business volumes reported by the POS consumer new car finance market so far in 2017 have mirrored trends in private new car sales. FLA members’ penetration of this market has held steady at around 86%.
“In 2017 as a whole, new business volumes in the POS consumer car finance market overall are expected to be around 2.3 million, a similar level to 2016.”
Table 1: Cars bought on finance by consumers through dealerships
New business
Oct 2017
% change on prev. year
3 months to Oct 2017
% change on prev. year
12 months to Oct 2017
% change on prev. year
New cars
Value of advances (£m)
1,373
+2
5,063
+1
18,382
+3
Number of cars
71,002
-7
261,042
-9
979,975
-6
Used cars
Value of advances (£m)
1,353
+15
3,909
+10
14,836
+10
Number of cars
116,918
+9
339,717
+4
1,313,327
+5
Table 2: Cars bought on finance by businesses
New business
Oct 2017
% change on prev. year
3 months to Oct 2017
% change on prev. year
12 months to Oct 2017
% change on prev. year
New cars
Number of cars
46,192
+7
118,165
-3
509,143
+1
Used cars
Number of cars
4,527
+1
13,682
+12
58,556
+30
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.For media enquiries, please contact the FLA press office on 020 7420 9656.