Shopper automotive finance new enterprise volumes grew in September by 4% in contrast with the identical month in 2023, in accordance with the FLA.
Within the first 9 months of 2024, quantity of latest enterprise was 2% decrease in contrast with the identical interval in 2023.
Geraldine Kilkelly, director of analysis and chief economist on the FLA, stated: “Total, the patron automotive finance market reported development in each the worth and quantity of latest enterprise in September which noticed the difficulty of a brand new registration plate.
“In Q3 2024 as a complete, new enterprise volumes on this market have been 1% larger than the identical quarter in 2023.
“The consumer car finance market is the largest of the UK consumer credit markets accounting for 36% of the total value of outstanding consumer credit contracts at the end of September 2024. It currently helps more than 6 million consumers fund car purchases across all regions of the UK.”
The buyer new automotive finance market reported new enterprise by worth in September 16% larger than in September 2023, whereas new enterprise volumes grew by 8%.
Within the 9 months to September 2024, new enterprise volumes have been 3% decrease than in the identical interval in 2023.
The buyer used automotive finance market reported a fall of 1% within the worth of latest enterprise in September in contrast with the identical month in 2023, whereas new enterprise volumes grew by 1%.
Within the 9 months to September 2024, new enterprise volumes have been 1% decrease than in the identical interval in 2023.
