FLA MONTHLY MOTOR FINANCE STATISTICS 

25 April 2006

FLA (Finance & Leasing Association) today released figures for the motor finance industry for March 2006.

Overview

• March saw the value of finance provided for new cars increase by 17% compared with the same month a year ago. The corresponding number of new cars financed grew by 8%.
• Finance provided for used cars increased by a modest 1% compared with March 2005 whilst the number of used cars financed contracted by 3% over the same period.

Industry comment

Commenting on the latest figures, Geraldine Kilkelly, FLA’s Head of Research, said:

“Growth in new car finance in March was driven by demand from both businesses and consumers.  The early part of 2006 has seen tentative signs of recovery in the fortunes of dealer finance. However, market conditions remain tough and the industry will need to work hard to sustain the positive start to the year.”