New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 13% in November, compared with the same month in 2015.

The plant and machinery finance and business equipment finance sectors reported new business up in November by 18% and 33% respectively, while commercial vehicle finance new business increased by 11% over the same period.

Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said “November was a particularly strong month for the asset finance market, with double-digit growth across all of the main asset sectors. Recent months have seen a recovery in new finance provided for construction and agricultural equipment, with the latest FLA figures for November showing new business in these sectors up by 29% and 20% respectively.”

Nov

2016

% change on prev. year 3 months to Nov 2016 % change on prev. year 12 months to Nov 2016 % change on prev. year
Total FLA asset finance (£m) 2,494 +13 7,929 +9 30,561 +8
Total excluding high value (£m) 2,370 +13 7,627 +8 29,153 +7
Data Extracts:

 

By asset:

Plant and machinery finance (£m) 495 +18 1,508 +14 5,981 +4
Commercial vehicle finance (£m) 634 +11 1,962 +5 7,416 +11
IT equipment finance (£m) 234 +68 617 +16 2,355 +6
Business equipment finance (£m) 225 +33 628 +26 2,401 +16
Car finance (£m) 711 +11 2,507 +5 9,301 +5
Aircraft, ships and rolling stock finance (£m) 20 -70 82 -42 486 -4
 

By channel:

Direct finance (£m) 1,169 +14 3,809 +10 15,026 +9
Broker-introduced finance (£m) 432 +12 1,380 +12 5,070 +9
Sales finance (£m) 769 +13 2,438 +4 9,056 +2
 

By product:

Finance leasing (£m) 285 -16 909 -4 3,844 +9
Operating leasing (£m) 575 -1 1,899 +6 7,010 +7
Lease/Hire purchase (£m) 1,393 +33 4,195 +8 15,803 +5
Other finance (£m) 242 +2 925 +37 3,904 +23