CONSUMER new car finance volumes were up 10 per cent in December last year.
Figures published by the Finance & Leasing Association (FLA) show that volumes reached a record annual level of almost 900,000, up 13% as a whole.
There has been strong growth in consumer motor finance provided through dealerships by FLA members over the last couple of years
Geraldine Kilkelly, FLA’s head of research and chief economist, said: “There has been strong growth in consumer motor finance provided through dealerships by FLA members over the last couple of years.
“Our most recent industry confidence survey suggests that growth is likely to continue in 2015, but at a slower rate than in 2014.”
Meanwhile, the percentage of private new cars sales financed through dealerships by FLA members reached a new high of 76.1 per cent in the twelve months to December 2014.
The consumer used car finance market also recorded double-digit growth in December as new business volumes increased by 11 per cent compared with December 2013. In 2014 as a whole, volumes were up by 14 per cent to reach a new high of 1.05 million.
