Geraldine Kilkelly, head of research and chief economist at the FLA, said: “Growth in the asset finance market was broad-based in October, with most of the main asset sectors reporting increases in new business.

“The industry is on course to report a record level of annual new business in 2017 of around £32 billion.”

UK asset finance market October year-to-date

 

Oct 17

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Total FLA asset finance (£m)  2,672   +7 7,625  +1  31,771  +5
Total excluding high value (£m)  2,665  +9  7,568  +3  30,772  +7
by asset:
Plant and machinery finance (£m) 489   +6  1,485  +1  6,518  +12
Commercial vehicle finance (£m) 660 +5 1,883 0  7,520  +2
IT equipment finance (£m) 195  +22 579 +4  2,248  0
Business equipment finance (£m) 196 +13 603 +8  2,585  +12
Car finance (£m) 911 +8 413 +2  9,833  +6
Aircraft, ships and rolling stock finance (£m) 17 -64 44 -52  586  +10
By channel:
Direct finance (£m) 1,395  +6 3,786 +1  5,585  +4
Broker-introduced finance (£m) 505 +14 1,478 +5  5,785  +13
Sales finance (£m)  765  +11  2,304  +7  9,403 +7
By product:      
Finance leasing (£m)  328  +5  945 +1  4,005  -3
Operating leasing (£m)  553  -1  1,678 -2  7,057  +6
Lease/Hire purchase (£m)  1,519  +14  4,148  +5  16,765  +10
Other finance (£m)  271  -5 855  -11  3,944  -5

Source: FLA