FLA: December 2020 figures published
Industry News | 12/02/21
Total asset finance new business (primarily leasing and hire purchase) fell by 6% in December 2020 compared with the same month in 2019. In 2020 as a whole, new business was 23% lower than in 2019.
The commercial vehicle finance sector reported new business up by 2% in December compared with the same month in 2019. The plant and machinery finance and IT equipment finance sectors reported falls in new business of 4% and 21% respectively, over the same period.
New business fell in December 2020 by 18% compared with the same month in 2019, and decreased by 18% in 2020 as a whole.
The retail store and online credit sector reported new business 6% lower in December than in the same month in 2019, and fell by 5% in 2020 overall. Credit card and personal loan new business together fell by 24% in December compared with the same month in 2019, and decreased by 22% in 2020 as a whole.
The consumer car finance market reported a fall in new business volumes of 12% in December 2020 compared with the same month in 2019. In 2020 as a whole, new business volumes in this market were 21% lower than in 2019.
The consumer new car finance market reported a fall in new business volumes of 18% in December compared with the same month in 2019. In 2020, new business volumes in this market fell by 25% compared with 2019. The percentage of private new car sales financed by FLA members in the twelve months to December 2020 was 93.2%, up from 91.7% in 2019.
The consumer used car finance market reported a fall in new business volumes of 8% in December compared with the same month in 2019. In 2020, new business volumes in this market fell by 18% compared with 2019.
