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Consumer motor finance grew 6% in first quarter of 2015

Figures from the Finance & Leasing Association (FLA) show consumer new car finance volumes rose 6% in Q1 2015.

The FLA data also shows a 10% growth in point-of-sale consumer new car finance volumes in March, compared with the same month a year earlier.

The percentage of private new car sales financed through dealerships by FLA members reached a new high of 76.8% in the twelve months to March.

The point-of-sale consumer used car finance market also put in a good performance, with volumes up by 11% in March, and 8% in Q1 2015 as a whole.

Geraldine Kilkelly, the FLA's head of research and chief economist, said: “Both consumer new and used car finance markets reported a strong end to the first quarter of 2015 and record levels of new business volumes in the twelve-month period to March.”

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