Consumer car finance new business volumes grew by 8% in April 2024
Consumer car finance new business volumes grew by 8% in April 2024Jun 07, 2024
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Asset finance new business grew by 31% in April 2024New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in April 2024 by 31% compared with the same month in 2023. In the first four months of 2024, new business was 7% higher than in the same period in 2023.
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Navigating key trends and challenges in the UK asset finance market in 2024The Asset Finance Outlook Report for H1 2024 from Asset Finance Connect provides critical insights into the auto and asset finance market, emphasizing key trends shaping the UK industry over the next six months. While high interest rates and inflation might be waning, other significant challenges remain. These include escalating global conflicts, political and geopolitical uncertainties, regulatory and government policy interventions, and the potential impacts of a new government and election campaign on the industry's current direction. Additionally, the regulation-led marketplace continues to influence the UK auto and asset finance sector.
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Corporate insolvencies increase in April 2024Corporate insolvency levels rose by 18.4 % in April 2024, with personal insolvencies also increasing by 9.9% during the same period, according to new statistics from the Insolvency Service. Corporate insolvencies increased to a total of 2,177 compared to March's total of 1,838, and increased by 18.4% compared to April 2023's figure of 1,838.
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Consumer car finance new business volumes fell by 7% in March 2024New figures released today by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in March 2024 by 7% compared with the same month in 2023. The corresponding value of new business was 5% lower over the same period. In Q1 2024 as a whole, new business by value and volume fell by 3% and 4% respectively, compared with Q1 2023.
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Asset finance new business fell by 10% in March 2024New figures released today by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell in March 2024 by 10% compared with the same month in 2023. In Q1 2024 as a whole, new business was at a similar level to Q1 2023.
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Bank of England keeps interest rates at 5.25%The Bank of England has today left interest rates on hold again despite increasing confidence that inflation has fallen back at its target level of 2%. The central bank's Monetary Policy Committee (MPC) voted seven to two to hold the rate at 5.25%, the level it has been at since August last year.
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Corporate insolvencies dropped by 16.6% in March 2024Corporate insolvency levels dropped by 16.6% in March 2024, while personal insolvencies also fell by 17.2% during the same period, according to new statistics from the Insolvency Service. Corporate insolvencies decreased to a total of 1,815 compared to February's total of 2,177, and decreased by 17.2% compared to March 2023's figure of 2,193.
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Consumer car finance new business volumes grew by 1% in February 2024New figures released today by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew in February 2024 by 1% compared with the same month in 2023. The corresponding value of new business was at a similar level to February 2023. In the first two months of 2024, new business by value and volume each fell by 1% compared with the same period in 2023.
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Asset finance new business grew by 10% in February 2024Total asset finance new business (primarily leasing and hire purchase) grew in February 2024 by 10% compared with the same month in 2023, according to new figures released today by the Finance & Leasing Association (FLA). In the first two months of 2024, new business was 9% higher than in the same period in 2023.
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Percentage of small businesses investing in growth initiatives hits three-year lowThe percentage of UK small businesses considering new projects to achieve business growth (66%) has fallen to its lowest level since January 2021, according to new research by Novuna Business Finance. Further, the Novuna study suggests the businesses that need to improve their fortunes most urgently are the very enterprises stepping back from investing in new growth initiatives.
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Asset finance new business grew by 31% in April 2024
Navigating key trends and challenges in the UK asset finance market in 2024
Corporate insolvencies increase in April 2024
Consumer car finance new business volumes fell by 7% in March 2024
Bank of England keeps interest rates at 5.25%
Consumer car finance new business volumes grew by 1% in February 2024
Percentage of small businesses investing in growth initiatives hits three-year low