LATEST figures from the Finance & Leasing Association (FLA) show that the point of sale (POS) consumer car finance market fell by 3% in June compared with the same month last year.
The POS consumer new car finance market reported a fall in new business volumes of 5% in June while the value of new business fell by 4%.
The percentage of private new car sales financed by FLA members through the POS was 91.0% in the twelve months to June 2019.
The POS consumer used car finance market reported a fall in new business volumes of 1% in June compared with the same month in 2018, while the value of new business remained at a similar level to June 2018.
Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said: “The POS consumer used car finance market reported a record total for new business volumes in the first half of the year of almost 772,000 vehicles.
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“The modest fall in POS consumer new car finance in the first six months of 2019 was in line with wider trends in private new car sales.”
Table 1: Cars bought on finance by consumers through dealerships | ||||||
New business |
Jun 2019 |
% change on prev. year |
3 months to Jun 2019 |
% change on prev. year |
12 months to Jun 2019 |
% change on prev. year |
New cars | ||||||
Value of advances (£m) |
1,646 |
-4 |
4,841 |
-3 |
19,291 |
-1 |
Number of cars |
79,276 |
-5 |
230,080 |
-6 |
940,568 |
-4 |
Used cars | ||||||
Value of advances (£m) |
1,468 |
0 |
4,663 |
+1 |
17,962 |
+7 |
Number of cars |
119,506 |
-1 |
382,291 |
-1 |
1,466,408 |
+3 |
Total cars | ||||||
Value of advances (£m) |
3,114 |
-2 |
9,503 |
-1 |
37,254 |
+3 |
Number of cars |
198,782 |
-3 |
612,371 |
-3 |
2,406,976 |
0 |
Table 2: Cars bought on finance by businesses | ||||||
New business |
Jun 2019 |
% change on prev. year |
3 months to Jun 2019 |
% change on prev. year |
12 months to Jun 2019 |
% change on prev. year |
New cars | ||||||
Number of cars |
35,341 |
-7 |
117,134 |
-4 |
394,882 |
-8 |
Used cars | ||||||
Number of cars |
5,651 |
+13 |
14,276 |
+14 |
61,063 |
+5 |