New figures released 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 in November 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.

Commenting on the figures, 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. This would represent new business growth of 6% compared with 2016, in line with expectations.”

Nov 2017 % change on prev. year 3 months to Nov

2017

% change on prev. year 12 months to Nov

2017

% change on prev. year
Total FLA asset finance (£m) 2,541 0 7,962 0 31,804 +4
Total excluding high value (£m) 2,531 +4 7,936 +3 30,919 +6
Data Extracts:

 

By asset:

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
 

By channel:

Direct finance (£m) 1,186 -2 3,864 0 15,595 +3
Broker-introduced finance (£m) 526 +14 1,551 +7 5,868 +13
Sales finance (£m) 818 +9 2,521 +7 9,456 +7
 

By product:

Finance leasing (£m) 286 -9 959 -2 3,948 -4
Operating leasing (£m) 607 +3 1,816 -2 7,143 +6
Lease/Hire purchase (£m) 1,371 -2 4,325 +3 16,745 +7
Other finance (£m) 276 +11 862 -9 3,968 -4

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