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 |