Improving outlook for economic and market conditions, reports FLA
Improving outlook for economic and market conditions, reports FLAMay 15, 2023
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Consumer car finance new business volumes fell by 8% in March 2023New figures released today by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in March 2023 by 8% compared with the same month in 2022. The corresponding value of new business fell by 7% over the same period. In Q1 2023, new business fell 6% by value and 5% by volume, compared with Q1 2022.
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Asset finance new business grew by 14% in March 2023New figures released today by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in March 2023 by 14% compared with the same month in 2022. In Q1 2023, new business was also 14% higher than in Q1 2022.
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New car market continues recovery in March with eighth month of growthUK new car registrations in March bounced back by 18.2% to deliver the best ‘new plate month’ performance since before the pandemic, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT).
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Consumer car finance new business volumes fell by 5% in February 2023New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in February 2023 by 5% compared with the same month in 2022. The corresponding value of new business also fell by 5% over the same period. In the first two months of 2023, new business fell 5% by value and 3% by volume, compared with the same period in 2022.
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Asset finance new business grew by 20% in February 2023New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in February 2023 by 20% compared with the same month in 2022. In the first two months of 2023, new business was 13% higher than in the same period in 2022.
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Consumer car finance new business volumes fell by 3% in January 2023The Finance & Leasing Association (FLA) figures show that consumer car finance new business volumes fell in January 2023 by 3% compared with the same month in 2022. The corresponding value of new business fell by 5% over the same period. In the twelve months to January 2023, new business grew 5% by value and held steady by volume, compared with the same period in 2022.
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Asset finance new business grew by 8% in January 2023New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in January 2023 by 8% compared with the same month in 2022. In the twelve months to January 2023, new business was 6% higher than in the same period in 2022.
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UK new car market posts seventh straight month of growthUK new car registrations grew by 26.2% in February as 74,441 new cars joined Britain’s roads, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). While February is typically low volume ahead of the March plate change, this year it marked the seventh month of consecutive growth as easing supply chain shortages steered the market closer to pre-pandemic levels, down just -6.5% on the same month in 2020.
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FLA members provided £148bn of new business in 2022New figures released by the Finance & Leasing Association (FLA) show that FLA members across the asset finance, consumer finance and motor finance markets provided a record £148.3 billion of new business in 2022, 12% higher than in 2021. Of this total:
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Asset finance new business grew by 16% in December 2022New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in December 2022 by 16% compared with the same month in 2021. In 2022 as a whole, new business was 6% higher than in 2021.
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