Motor Finance highlights some of the key figures from the FLA and SMMT.

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Analysis 

Figures released by the Finance & Leasing Association (FLA) show that point of sale (POS) consumer new car finance business volumes grew by 1% in June, compared with the same month in 2017, while the value of new business was up by 9%.

The percentage of private new car sales financed by FLA members through the POS was 89.5% in the twelve months to June. In the POS consumer used car finance market, new business was up 4% by volume and 11% by value in June, compared with the same month in 2017.

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Geraldine Kilkelly, head of research and chief economist at the FLA, said: “The point of sale consumer car finance market reported new business volumes up in the first half of 2018 by 4%, compared with the same period in 2017.”

Analysis 

The UK new car market remained stable in July, with year-on-year demand growing by 1.2%. 163,898 new cars were registered in the month as the market stabilised following a turbulent first six months.

Although registrations by businesses with fleets of 25 cars or fewer fell by -10.2%, demand from private buyers was up by 0.1% on the same month in 2017. Meanwhile, large fleets grew by 2.6%.

In terms of fuel type, the market followed the trend of previous months, with diesel registrations falling -24.4% as petrol demand grew 20.1% Mike Hawes, SMMT chief executive, said, “The feel-good factor from a sun and sport-packed July, combined with some fantastic deals on a raft of exciting new models, clearly helped keep showrooms relatively busy last month. It’s great to see alternatively fuelled vehicles benefiting from this growth, and government’s acknowledgement of the vital role new tech diesel will play in its Road to Zero strategy should help even more motorists benefit from the latest, safest and low emission technology over the coming months.