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
prev yr |
3 mths to
Nov 17 |
% change on
prev yr |
12 mths to
Nov 17 |
% change on
prev yr |
|
|---|---|---|---|---|---|---|
| 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 | |
| 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 |