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Car dealers grew motor finance volume by 5% in February

The volume of point-of-sale motor finance sales grew by 5% in February to more than 133,000.

According to the Finance & Leasing Association, the consumer used car finance market saw growth strengthen in February by 9% year-on-year, while new car finance volumes fell by 3%.

Dealer point of sale new car finance penetration stood at 76% in the 12 months to February 2015, the FLA said.

Geraldine Kilkelly, head of research and chief economist at the FLA, said: “The point-of-sale consumer car finance market has reported growth each month for almost four years.  The FLA’s Q1 2015 retail motor finance confidence survey shows that the majority of respondents expect single-digit growth in new business over the next twelve months.”

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