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Consumer new car finance volumes up 15% in June

By Kyle Linsay
Friday, August 7, 2015 - 15:00

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New figures released today by the Finance & Leasing Association (FLA) show the number of new cars bought by consumers on finance provided through dealerships grew by 15% in June, compared with June 2014 – the strongest growth seen this year.

The percentage of private new car sales financed by FLA members through dealerships in the twelve months to June 2015 increased to a new high of 78.1%.

Point-of-sale consumer used car finance volumes also continued to grow, increasing by 7% in June compared with June 2014, and by 9% in the twelve months to June 2015.

Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:

“As we forecast at the beginning of the year, point-of-sale consumer car finance volumes have continued to grow in 2015, but at a slower rate than in 2014. The first half of 2015 saw growth of 8% in new business volumes compared with 17% growth in the first half of 2014.”

Table 1: Cars bought on finance by consumers through dealerships
New business Jun 2015 % change on
prev. year
3 months to
Jun 2015
% change on
prev. year
12 months to
Jun 2015
% change on
prev. year
New cars
Value of advances (£m) 1,400 +20 3,860 +16 14,984 +14
Number of cars 84,526 +15 234,114 +11 931,439 +9
Used cars
Value of advances (£m) 1,040 +14 3,070 +13 11,324 +14
Number of cars 97,616 +7 291,553 +8 1,090,152 +9
Table 2: Cars bought on finance by businesses
New business Jun 2015 % change on
prev. year
3 months to
Jun 2015
% change on
prev. year
12 months to
Jun 2015
% change on
prev. year
New cars
Number of cars 47,187 +25 145,137 +23 514,647 +16
Used cars
Number of cars 2,846 -23 9,408 -19 39,591 -17

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