Consumer car finance market falls by 1% in November
New figures released today by the Finance & Leasing Association (FLA) show that the point of sale (POS) consumer car finance market fell by 1% in November, compared with the same month in 2017.
The percentage of private new car sales financed by FLA members through the POS was 91.2% in the twelve months to November.
The POS consumer used car finance market reported new business in November up 5% by value, while volumes remained at a similar level to the same month in 2017.
Commenting on the figures, Geraldine Kilkelly, head of research and chief economist at the FLA, said:
“The POS consumer car finance market is on course for single-digit new business volumes growth in 2018 as a whole, despite the quieter performance of the market in November.”
Table 1: Cars bought on finance by consumers through dealerships
New business
Nov 2018
% change on prev. year
3 months to Nov 2018
% change on prev. year
12 months to Nov 2018
% change on prev. year
New cars
Value of advances (£m)
1,411
0
5,418
-6
19,378
+2
Number of cars
67,936
-2
263,085
-9
961,990
-3
Used cars
Value of advances (£m)
1,350
+5
4,400
+9
17,463
+13
Number of cars
108,012
0
355,868
+4
1,454,568
+7
Total cars
Value of advances (£m)
2,761
+2
9,818
0
36,841
+7
Number of cars
175,948
-1
618,953
-2
2,416,558
+3
Table 2: Cars bought on finance by businesses
New business
Nov 2018
% change on prev. year
3 months to Nov 2018
% change on prev. year
12 months to Nov 2018
% change on prev. year
New cars
Number of cars
28,820
-13
89,801
-23
412,982
-13
Used cars
Number of cars
5,226
+20
19,223
+58
60,552
+6