The figures show that:
- Asset finance new business (primarily leasing and hire purchase) grew by 3% in January compared with the same month last year – the twenty-eighth consecutive month of growth. Commercial vehicle finance and car finance grew in January by 6% and 4% respectively, but plant and machinery finance fell by 7% over the same period.
- Point-of-sale consumer new car finance new business grew 20% by value and 14% by volume in January 2016, compared with the same month last year. The point-of-sale consumer used car finance market also reported new business growth in January, of 15% by value and 12% by volume.
- Consumer finance new business grew 11% in January compared with the same month last year. Credit card and personal loan new business together grew by 9% compared with January 2015, while retail store and online credit increased by 1%. The second charge mortgage market reported new business up 36% by value and 17% by volume over the same period.