Latest FLA figures released
Industry News | 11/09/20
Asset Finance Statistics
New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell by 22% in July 2020 compared with the same month in 2019. In the seven months to July 2020, new business contracted by 31% compared with the same period in 2019.
The IT equipment finance and plant and machinery finance sectors reported falls in new business in July of 4% and 11% respectively, compared with the same month in 2019. Over the same period, the commercial vehicle finance and business new car finance sectors reported falls in new business of 18% and 36% respectively.
Consumer Finance Statistics
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell in July 2020 by 9% compared with the same month in 2019, and decreased by 23% in the first seven months of 2020.
Retail store and online credit new business grew by 1% in July compared with the same month in 2019, but remained 9% lower in the first seven months of 2020 than in the same period in 2019. Credit card and personal loan new business together fell in July 2020 by 29% compared with the same month in 2019, and contracted by 22% in the first seven months of 2020.
Motor Finance Statistics
New figures released by the Finance & Leasing Association (FLA) show that new business in the consumer car finance market grew 19% by value and 9% by volume in July 2020 compared with the same month in 2019. In the seven months to July 2020, new business volumes in this market remained 30% lower than in the same period in 2019.
The consumer new car finance market reported growth in new business of 20% by value and 9% by volume in July 2020 compared with the same month in 2019. In the first seven months of 2020, new business volumes in this market were 36% lower than in the same period a year earlier. The percentage of private new car sales financed by FLA members in the twelve months to July 2020 was 93.5%, up from 91.6% in the same period last year.
The consumer used car finance market reported growth in new business of 18% by value and 9% by volume in July 2020 compared with the same month in 2019. In the first seven months of 2020, new business volumes in this market fell by 26% compared with the same period in 2019.
