Average value of UK new car finance reaches record high

The average amount financed for a new car in the UK reached a record high in September as the value of advances grew despite shrinking vehicle sales, new figures from the Finance and Leasing Association show. The value of new business in the point-of-sale (POS) consumer new car finance market grew by 5% in September compared with the same month in 2018, while new business volumes fell by 1% over the same period. This drove the average amount financed to £21,563, 5% more than the same period last year, as consumers opt for more expensive vehicles, such as SUVs and an increasing number of plug-in vehicles, which carry a price premium compared to traditional petrol and diesel models.

Average value of UK new car finance reaches record high

Nov 06, 2019

The average amount financed for a new car in the UK reached a record high in September as the value of advances grew despite shrinking vehicle sales, new figures from the Finance and Leasing Association show. The value of new business in the point-of-sale (POS) consumer new car finance market grew by 5% in September compared with the same month in 2018, while new business volumes fell by 1% over the same period. This drove the average amount financed to £21,563, 5% more than the same period last year, as consumers opt for more expensive vehicles, such as SUVs and an increasing number of plug-in vehicles, which carry a price premium compared to traditional petrol and diesel models.

Bynx Pricing Reviews

Bynx - Asset Finance Pricing Review - Russia's auto revolution

Dec 12, 2019

      AVAILABLE NOW, FREE OF CHARGE Tom Seymour takes a look at how leasing and the fleet market are developing in Russia. While new cars sales have stalled, leasing is gaining popularity.  Russian drivers are showing a strong interest in car sharing services, although support for other new initiatives, such as electric vehicles, is very low. It is hard to predict how the Russian auto market will develop. As commentator Ralph Morton points out in his opinion piece, the runaway growth in personal leasing is starting to have an impact on fleet leasing. Insights into the so-called “death of diesel” on car sales and residual values. Dean Bowkett takes a look at how new powertrains are taking hold across Europe, and the factors influencing the rise of electric vehicles. The latest stats from Experteye’s European Leasing Index Report.   CONTRIBUTIONS FROM   Sovetkina Zoya, leasing lead, Expert RA Dmitriy Strashkov, head of corporate finance, VWFS Rus Alexander Mikhaylov, chief executive, Europlan Ralph Morton, Editorial Director, Morton Media

 

Technology Reports

OTOZ - Report highlights challenge for auto finance in juggling short and long term market changes

Dec 12, 2019

  The automotive market is undergoing a major transformation, as the shift from private ownership of vehicles towards shared on-demand services gathers pace. Previously, the focus was on providing a single vehicle to a single user, now the trend is for providing services tailored to the consumer’s needs at any particular point in time. That can mean one car with multiple owners, or making multiple cars available to a single user. This changeover comes as the over-riding focus for OEMs is research into electric vehicles, with public and regulatory pressure growing for a move into alternatives to fossil fuels. Yet the push to provide and fund options such as car sharing cannot be ignored. Given these demands, and with constraints on budget, OEMs need to find ways to cost effectively test and develop new service-driven business models, and the infrastructure to deal with them.