New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer new car finance market fell 2% by value and 7% by volume in April, compared with the same month in 2018.
The percentage of private new car sales financed by FLA members through the POS was 91.0% in the twelve months to April 2019.
The POS consumer used car finance market reported new business growth in April of 4% by value and 1% by volume.
Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“Trends in the POS consumer new car finance market continued to reflect private new car sales. Subdued consumer confidence has also contributed to a slowdown in the POS consumer used car finance market in recent months.â€
“However, new business volumes overall in the first four months of 2019 held steady compared with the same period in 2018.”
Table 1: Cars bought on finance by consumers through dealerships | ||||||
New business | Apr 2019 | % change on prev. year | 3 months to Apr 2019 | % change on prev. year | 12 months to Apr 2019 | % change on prev. year |
New cars | ||||||
Value of advances (£m) | 1,603 | -2 | 5,849 | -2 | 19,386 | +1 |
Number of cars | 76,042 | -7 | 285,590 | -5 | 948,203 | -2 |
Used cars | ||||||
Value of advances (£m) | 1,632 | +4 | 4,768 | +7 | 17,970 | +9 |
Number of cars | 134,073 | +1 | 388,639 | +2 | 1,471,512 | +4 |
Total cars | ||||||
Value of advances (£m) | 3,236 | +1 | 10,617 | +2 | 37,356 | +5 |
Number of cars | 210,115 | -2 | 674,229 | -1 | 2,419,715 | +2 |
Table 2: Cars bought on finance by businesses | ||||||
New business | Apr 2019 | % change on prev. year | 3 months to Apr 2019 | % change on prev. year | 12 months to Apr 2019 | % change on prev. year |
New cars | ||||||
Number of cars | 42,700 | -3 | 109,657 | -5 | 398,719 | -10 |
Used cars | ||||||
Number of cars | 4,187 | +17 | 16,858 | +13 | 59,863 | +3 |
Â