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