On 4 June 2015, the Finance & Leasing Association (FLA) released figures showing an increase in the consumer, motor and asset finance industries in April, compared with the same period last year. The figures showed growth of 5% in consumer finance new business and 11% in point-of sale consumer new car finance, however the strongest growth of 20% was reported in asset finance new business, achieved through the provision of leasing and hire purchase.
Commenting on the consumer finance figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said “New finance provided to consumers by FLA members has been growing at a steady rate and in line with forecasts for growth in 2015 as a whole. Our latest research suggests that new consumer lending is likely to grow by 7% in 2015.” The figures across the board are expected to continue to increase in 2015.
Full details can be found on the FLA website here.