The number of new cars bought by consumers using dealer finance in November was up 7% compared with the same month in 2012. The consumer used car finance market recorded another strong month, with volumes 18% higher than in November 2012.
FLA head of research and chief economist Geraldine Kilkelly said: "The consumer new car finance market has reported moderate growth in the last couple of months, with the annual percentage of private new car sales financed by FLA members falling slightly from a peak of 74.5% in August to 74% in November.
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"Motor finance providers remain optimistic about growth in 2014, and the FLA’s most recent confidence survey shows that the majority of respondents expect new business growth of up to 10% over the next twelve months."
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By GlobalData
