The statistics show:
- Growth of 8% in consumer finance new business in April, compared with the same month last year. Within consumer finance, credit card and personal loan new business grew by 5% compared with April 2015, while the retail store and online credit increased by 6% over the same period. By contrast, second charge mortgage market reported a fall in new business by 19% by value and 28% by volume.
- Growth of 17% by value and 12% by volume in point-of-sale (POS) consumer new car finance market in April, compared with the same month last year. The percentage of private new car sales financed by FLA members through the POS reached 83.6% in the twelve months to April, up from 82.7% in the twelve months to March. The POS consumer used car finance market also reported further new business growth in April of 9% by value and 8% by volume.
- Growth of 2% in asset finance new business (primarily leasing and hire purchase) in April, compared with the same month last year. In the first four months of 2016, new business was 6% higher compared with the same period in 2015. The business equipment finance sector reported new business up by 5% in April compared with the same month in 2015, while commercial vehicle finance grew by 3% over the same period.