0 £0.00
This item was added to your basket

Dear visitor,
You are viewing 1 of your 1 free articles


We’ve invested in our content to provide more news, analysis, features, interviews and opinions across a wide range of Credit and Financial Services. Register now to access more of the trustworthy, insightful information that’s on offer.

Register now or Login

Consumer finance new business remained stable in August

Finance & Leasing Association (FLA) figures show that consumer finance new business held steady in August and grew by one percent in the twelve months to August, compared with the same period last year.

Retail store and online credit new business in August was at a similar level to the same month in 2018, while new business provided through credit cards and personal loans together fell by one percent.

 

Meanwhile, new business volumes in the point of sale (POS) consumer new car finance market fell by two percent in August, compared with the same month in 2018, while the value of new business grew by two percent over the same period.

 

The percentage of private new car sales financed by FLA members through the POS remained at 91.2 percent in the twelve months to August 2019.

 

The POS consumer used car finance market reported that new business fell two by volume and one percent by value in August, compared with the same month last year.

 

Geraldine Kilkelly, head of research and chief economist at the FLA, said: “Consumer finance new business fell by one percent in the eight months to August, in line with expectations. We continue to expect this market to report broadly stable new business in 2019 as a whole compared with 2018.

 

“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 percent in the eight months to August, in line with expectations.”

 

In the second charge mortgage market, volumes were up by 12 percent in August, its twelfth consecutive month of double-digit new business growth.

 

In the first eight months of 2019, new business volumes were 21 percent higher than in the same period in 2018.

Share on LinkedInShare on TwittereCard
Add New Comment
You must be logged in to comment. Login or Register to access enhanced features of the website.

LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

READ NEXT

Lending Awards 2019 winners revealed

Lending Awards 2019 winners revealed

Credit Strategy launches evolved Premium Membership

Credit Strategy launches evolved Premium Membership

Cabot earnings up 12 percent in Q3 results

Cabot earnings up 12 percent in Q3 results

Upcoming events

Credit Summit

Credit Strategy
LinkedIn page

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace.
@ Copyright Shard Media Group