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Auto Finance News UK consumer new car finance volumes fall Published: 16th November 2017 Share New business volumes in the point of sale (POS) consumer new car finance market fell by 11% in September, compared with the same month in 2016, latest figures from the UK’s Finance & Leasing Association (FLA) show. Its research also showed that growth in the value of new business was flat over the same period. In Q3 2017 overall, new business was up 1% by value, but fell 9% by volume. The fall reflects declining new car sales in the UK market, which is down 4.6% for the year to date. However, the proportion of private new car sales financed by FLA members through the POS held steady at 86% in the 12 months to the end of September. In addition, the POS consumer used car finance market reported new business in September up 9% by value and 3% by volume, compared with the same month last year. Geraldine Kilkelly, head of research and chief economist at the FLA, said: “The performance of the POS consumer new car finance market in September continued to reflect recent trends in private new car sales. “Despite subdued consumer confidence, new business volumes in the POS consumer car finance market overall were stable in the first nine months of 2017, compared with the same period in 2016.” Cars bought on finance by consumers through dealerships New business Sep 17 % change on prev yr 3 mths to Sep 17 % change on prev yr 12 mths to Sep 17 % change on prev yr New cars Value of advances (£m) 2,869 0 4,898 +1 18,358 +3 Number of cars 144,143 -11 254,167 -9 985,382 -5 Used cars Value of advances (£m) 1,277 +9 3,849 +11 14,663 +10 Number of cars 110,000 +3 337,170 +5 1,303,848 +5 Cars bought on finance by businesses New business Sep 17 % change on prev yr 3 mths to Sep 17 % change on prev yr 12 mths to Sep 17 % change on prev yr New cars Number of cars 41,827 -16 119,873 -6 505,930 -1 Used cars Number of cars 3,862 -8 16,397 +34 58,492 +34 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 NewsVolkswagen Group hits highest European market share in 3 years NewsAuto Trader predicts growth of new and used car market in 2025 NewsOctober sees modest 1.1% growth in new EU car registrations Auto Finance
