POS sales up in value and volume
The Finance & Leasing Association (FLA) has delivered some good news to the automotive industry by reporting that new business in the point of sale (POS) consumer car finance market grew four per cent by volume and seven per cent by value in September, compared with the same month in 2018.
In the third quarter as a whole, new business grew three per cent by volume and five per cent by value.
The value of new business in the POS consumer new car finance market grew by five per cent in September, while the consumer used car finance market reported new business in September up 12 per cent by value and nine per cent by volume.
Geraldine Kilkelly, head of research and chief economist at the FLA, said: “In September, the POS consumer used car finance market reported its strongest growth since August 2018, which contributed to an increase in new business volumes of five per cent in quarter three 2019 as a whole.
“The POS consumer car finance market overall reported stable new business volumes in the first nine months of 2019, in line with expectations.”
