Point-of-sale consumer new car finance was up 11% by volume and 17% by value in April, compared with the same month last year.
The percentage of private new car sales financed by Finance and Leasing Association members through dealerships reached 77.3%, a new record, figures released today by the FLA show.
Point-of-sale consumer used car finance saw continued strong growth in April, up 15% by volume and 19% by value.
Geraldine Kilkelly, head of research and chief economist at the FLA, said:
“In April, the consumer car finance market grew at its strongest rate since September last year. This contributed to growth of 8% in new business volumes in the first four months of 2015, which is in line with market expectations for growth in 2015 as a whole.”