The motor finance sector is expected to record a 6% rise in value despite supply shortages which “continued to weigh on its recovery” during Q4, the Finance and Leasing Association (FLA) has said.
Consumer car finance registered growth for only the fourth time in 2022 as the sector delivered a 4% uplift by volumes and 9% by value.
The Finance and Leasing Association (FLA) has called for reform of the Consumer Credit Act to be “comprehensive” as consultation on the plans opened today (December 9).
September recorded the UK’s lowest new car finance volumes since 2010 as supply issues continued to disrupt the automotive sector, the Finance & Leasing Association (FLA) has reported.
The Motor finance market reported growth in both the value and volume of new business for the first time since March during August trading, the Finance and Leasing Association (FLA) has reported.
The used car sector delivered double-digit growth in the value of new business generated in July as supply issued continued to subdue new car registrations.
The UK’s new car finance suffered its “largest contraction” in new business volumes since February 2021’s COVID-19 lockdown period during June, according to new data published by the Finance and Leasing Association (FLA).
High new and used car prices will continue to drive the motor finance sector's growth by value despite a cost-of-living crisis that will “subdue consumer spending in the coming months”, the FLA has said.
The Finance and Leasing Association (FLA) still expects a Q2 rise in car buying activity, despite expectations that spending will slow amid rising inflation, interest rates, and taxes.
The squeeze on household incomes and continued new car supply constraints mean that the UK’s car finance sector is likely to be restricted to ‘single-digit growth’ in 2022, the FLA has said.
The Finance and Leasing Association (FLA) has revised down its 2022 car finance market growth projections as the squeeze on household incomes and vehicle supply restrictions bite.
The Finance and Leasing Association (FLA) has warned that inflation could peak at 8% in the first half of 2022 after the global economic outlook weakened following Russia’s invasion of Ukraine.
The consumer car finance market grew 2% by volume and 13% by value in December to complete a 2021 “rebound” despite the headwinds of COVID-19 and vehicle supply shortages.
The future of franchised retailers’ motor finance FCA ruling on discretionary commissions has lead to greater transparency, but few dealers are reporting any noticeable variation to income as a result.
Independent used car dealerships and supermarkets have been best positioned to adapt to the Financial Conduct Authority (FCA) rule banning discretionary commission models that was brought into force last January.
Newly published motor finance market data from the Finance and Leasing Association (FLA) have revealed that business volumes rose by a third in November.
Consumer car finance remained up 7% by volume in the year to the end of October despite an 11% decline in October, according to Finance and Leasing Association (FLA) data.
The Finance and Leasing Association (FLA) has announced the appointment of Rebecca McNeil as the new chair of the association, with effect from November 30.
New consumer car finance volumes remained up on 2020 in the first nine months of this year despite slumping by over a fifth in September, the Finance and Leasing Association (FLA) has revealed.
The Finance and Leasing Association (FLA) has called for Chancellor of the Exchequer Rishi Sunak to announce a Green Finance Wholesale Guarantee and reform corporation tax to make green investments more affordable.
