August 13, 2020

Dealer new car finance sales fall 9% in October

The new vehicle money showcase detailed new business volumes 9% lower in October than around the same time in the earlier year. In the a year to October new autos sold on account are down – 3%, as per figures from the Finance and Leasing Association.

Regardless of the decrease in October, the level of private new vehicle deals financed by FLA individuals arrived at a record 91.3% in the a year to October 2019.

The shopper utilized vehicle money showcase detailed a fall in new business volumes of 2% in October contrasted and that month in 2018.

Geraldine Kilkelly, head of research and boss financial expert at the FLA, stated: “The purchaser vehicle money advertise is on track to report new business volumes in 2019 all in all of around 2.4 million autos, a comparative level to 2018.

“Shopper certainty ought to improve as vulnerability about the financial standpoint lessens, which will assist support with requesting for vehicle money one year from now. New business volumes in the customer vehicle account advertise are probably going to stay stable in 2020 overall, with a humble fall in new business volumes in the new vehicle money showcase balance by single-digit development in the trade-in vehicle fund showcase.”

Table 1: Cars purchased on money by buyers through the retail location

New business Oct 2019 % change on prev. year 3 months to Oct 2019 % change on prev. year 12 months to Oct 2019 % change on prev. year
New cars
Value of advances (£m) 1,404 -5 5,037 1 19,403 0
Number of cars 65,854 -9 238,142 -3 933,512 -3
Used cars
Value of advances (£m) 1,581 -1 4,746 3 18,225 4
Number of cars 127,990 -2 382,268 2 1,481,355 2
Total cars
Value of advances (£m) 2,985 -3 9,783 2 37,628 2
Number of cars 193,844 -4 620,410 0 2,414,867 0

Leave a Reply

Your email address will not be published. Required fields are marked *