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Demand for motor finance remains strong, report FLA

Monday, August 12, 2013 - 14:00
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BOOST: Things looking up, say FLA

New Finance and Leasing Association (FLA) figures show a strong half-year performance from the motor market, with consumer new car finance growing 31% by value.

Numbers also display the FLA members’ penetration of the private new car registrations market increasing to 73.6%.

Business new car finance also grew – by 3% – meaning an encouraging 2013 after a flat previous year.

Paul Harrison, Head of Motor Finance at the FLA, said: “These continuing healthy figures support a general picture of improving consumer confidence.

“With interest rates set to remain low, there appears to be a positive outlook for consumer demand.”

Julian Rose, Head of Asset Finance at the FLA, added: “New investment in business equipment is a good indicator of future business growth, so these figures augur well for SME sales growth and employment trends over the rest of 2013.”

Image courtesy of drs1ump, with thanks.

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