Equipment Finance News Asset finance market grows in UK Published: 13th June 2017 Share Figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 5% in April, compared with the same month last year. The plant and machinery finance sector reported new business up in April by 9%, while new finance for business cars grew by 8% over the same period. Geraldine Kilkelly, head of research and chief economist at the FLA, said: “Asset finance new business increased by 8% in the first four months of 2017, in line with our expectations of single-digit growth for the year overall. “The plant and machinery finance sector returned another strong performance in April, with new finance for agricultural equipment and construction equipment up by 17% and 8% respectively.” Cars bought on finance by consumers through dealerships New business April 2017 % change on prev yr 3 mths to April 17 % change on prev yr 12 mths to April 17 % change on prev yr New cars Value of advances (£m) 1,174 -19 5,605 3 18,320 6 Number of cars 61,434 -28 305,190 -5 1,030,839 0 Used cars Value of advances (£m) 1,204 4 3,809 8 14,006 11 Number of cars 109,244 -1 342,797 3 1,273,976 7 Cars bought on finance by businesses New business April 2017 % change on prev yr 3 mths to April 17 % change on prev yr 12 mths to April 17 % change on prev yr New cars Number of cars 47,672 -7 138,382 -2 502,726 -2 Used cars Number of cars 2,780 -8 11,005 15 53,226 42 Asset Finance Connect Asset Finance Connect brings you news and updates about UK and European auto, equipment and asset finance providers. Sign up to our newsletter Featured Stories NewsNew joint venture, Daiwa Airborne, launched in Japan NewsGrenke surpasses €3bn in leasing new business for 2024 NewsMoody’s assigns Deutsche Leasing A2 rating Equipment Finance
