The UK asset finance market has maintained a full-year growth rate of 4% as latest figures show the market held steady during November 2017.
New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) in November was £2.5 billion, a similar level to the same month in 2016.
The commercial vehicle finance and IT equipment finance sectors reported new business up by 5% and 1% respectively, compared with the same month in 2016, while new finance for plant and machinery fell by 3% over the same period.
Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said: “The asset finance market reported a broadly stable picture across the main asset sectors in November, and remains on course to report a record level of annual new business in 2017 of around £32 billion.”
Total FLA asset finance growth to the end of November is 4%, but excluding high value items, it is 6%.
|Nov 17||% change on
|3 mths to
|% change on
|12 mths to
|% change on
|Total FLA asset finance (£m)||2,541||0||7,962||0||31,804||+4|
|Total excluding high value (£m)||+4||7,936||+3||30,919||+6|
|Plant and machinery finance (£m)||481||-3||1,464||-2||6,506||+10|
|Commercial vehicle finance (£m)||691||+5||2,061||+4||7,574||+2|
|IT equipment finance (£m)||235||+1||642||+5||2,246||-4|
|Business equipment finance (£m)||209||-4||624||+4||2,566||+9|
|Car finance (£m)||738||-2||2,538||-1||9,854||+5|
|Aircraft, ships and rolling stock finance (£m)||8||-60||45||-45||574||+18|