The Finance and Leasing Association (FLA) is set to make submissions urging Government to extend its COVID-19 business lending and introduce tax incentives to boost the adoption of alternative fuel vehicles (AFV).
The new and used car finance markets returned to growth in July as showrooms across the UK re-opened their doors following the COVID-19 lockdown period, the Finance and Leasing Association (FLA) has confirmed.
Four of the UK remarketing sector's industry bodies have come together to deliver unified guidance on how to comply with safety guidance as the COVID-19 crisis eases and automotive retail businesses begin to re-open.
The Financial Conduct Authority (FCA) has said that it expects motor finance providers to offer “exceptional and immediate support to customers facing payment difficulties” due to COVID-19 coronavirus.
The Finance and Leasing Association’s chairman has urged the sector’s regulators and policymakers to work more closely with the industry and ensure motor and asset finance is able to help the UK reach its zero emissions goal.
The point of sale (POS) car finance market posted year-on-year declines of 3% by volume and 2% by value across both new and used car sectors during June, according to the Finance and Leasing Association (FLA).
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