FLA members provided £151 billion of new business in 2023

New figures released today by the Finance & Leasing Association (FLA) show that FLA members across the asset finance, consumer finance and motor finance markets provided a record £151 billion of new business in 2023, 1% higher than in 2022.

Of this total:

£38 billion was provided to businesses for investment in machinery, equipment, and vehicles, including £23 billion to SMEs.
£113 billion was provided to households, including £39 billion for new and used car purchases.
Motor finance to businesses and households was £52 billion.
£63 billion was provided by non-bank lenders.

Stephen Haddrill, Director General at the FLA, said: “Our latest market data shows the extent and breadth of support for businesses and households provided by FLA members last year.

“In an election year, the FLA has produced a manifesto which includes recommendations on regulation, access to finance and Net Zero that will ensure the industry remains in a strong position to continue to support the real economy.”

	Dec 2023	% change on prev yr	3 mths to Dec 2023	% change on prev yr	12 mths to Dec 2023	% change on prev yr
Total FLA new business (£m)	11,502	-1	37,044	2	150,927	1
By customer:
Business (asset) finance (£m)	3,218	-1	9,770	7	38,283	12
Consumer finance (£m)	8,285	-2	27,274	0	112,644	-2
Within the above:
Motor finance (£m)	3,450	-3	11,961	2	52,018	3