Car finance market suffers June fall
New figures released by the Finance & Leasing Association (FLA) show that the point of sale (POS) consumer car finance market fell by three per cent in June 2019, compared with the same month in the previous year.
The POS consumer new car finance market reported a fall in new business volumes of five per cent in June compared with the same month in 2018, while the value of new business fell by four per cent.
The percentage of private new car sales financed by FLA members through the POS was 91% in the twelve months to June 2019.
The POS consumer used car finance market reported a fall in new business volumes of one per cent in June compared with the same month in 2018, while the value of new business remained at a similar level to June 2018.
Commenting on the figures, Geraldine Kilkelly, head of research and chief economist at the FLA, said, ‘The POS consumer used car finance market reported a record total for new business volumes in the first half of the year of almost 772,000 vehicles, while the modest fall in POS consumer new car finance in the first six months of 2019 was in line with wider trends in private new car sales.’
