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

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Analysis

Figures released by the FLA show that new business volumes in the point of sale (POS) consumer new car finance market grew by 9% in August, compared with the same month in 2017, while the value of new business was up by 14% over the same period. Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said: “A boost to private new car sales in August ahead of changes to emission standards in September contributed to the increase in new business volumes reported by the POS consumer new car finance market. “In the first eight months of 2018, new business volumes in this market were at a similar level to the same period in 2017.”

Analysis

The UK new car market fell by -20.5% in September, according to the latest figures released today by the Society of Motor Manufacturers and Traders (SMMT). 338,834 vehicles were registered in the month, down around 87,000 on the previous year as new testing requirements continue to affect supply and distort the market. The impact was felt across the board, with registrations by private consumers, fleets and businesses all declining, by -20.1%, -22.4% and -6.3% respectively. Registrations of petrol and diesel cars also fell, while hybrids and plug-in electrics fared better, up a modest 3.9%. Declines were seen across almost every vehicle segment, with MPVs and Specialist Sports cars showing the biggest falls, down -54.8 and -50.9%. Luxury saloons were the only segment to register growth, up +3.5%, while Dual Purpose cars, which have enjoyed strong growth over the year to date, held steadier than most, falling just -3.5% in the month.

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