August low for consumer car finance market
New figures released by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market fell by two per cent in August, compared with the same month in 2018, while the value of new business grew by two per cent over the same period.
The percentage of private new car sales financed by FLA members through the POS remained at 91.2% in the 12 months to August 2019.
The POS consumer used car finance market reported that new business fell two per cent by volume and one per cent by value in August, compared with the same month last year.
Geraldine Kilkelly, head of research and chief economist at the FLA, said, ‘The POS consumer new car finance market reported a modest fall in new business volumes in August, as the market continued to track private new car sales. New business volumes in the POS consumer car finance market overall fell by one per cent in the eight months to August, in line with expectations.’
