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UK Asset finance market rebounds in April
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8 June 2018

New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 7% in April, compared with the same month in 2017.

New business in the plant and machinery finance and business equipment finance sectors was up by 13% and 18% respectively, while commercial vehicle finance new business increased by 13% over the same period.

Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:

“The recovery in asset finance new business in April was broad-based. The manufacturing, agricultural and construction equipment finance sectors each reported strong growth, with new business up by 61%, 35% and 27% respectively, compared with April 2017.”

 

 

Apr 2018

% change on prev. year

3 months to Apr

2018

% change on prev. year

12 months to Apr

2018

% change on prev. year

Total FLA asset finance (£m)

2,738

+7

8,068

-1

31,650

+3

Total excluding high value (£m)

2,554

+10

7,739

+1

30,019

+5

       

Data Extracts: By asset:

      

Plant and machinery finance (£m)

574

+13

1,717

+1

6,627

+8

Commercial vehicle finance (£m)

649

+13

1,981

+1

7,485

0

IT equipment finance (£m)

136

+14

501

-5

2,335

+4

Business equipment finance (£m)

206

+18

637

+3

2,617

+7

Car finance (£m)

891

+5

2,484

-1

9,396

+3

Aircraft, ships and rolling stock finance (£m)

15

-91

53

-83

289

-56

 By channel:

      

Direct finance (£m)

1,259

+3

3,864

0

14,978

+2

Broker-introduced finance (£m)

525

+24

1,554

+9

5,823

+10

Sales finance (£m)

771

+14

2,321

-1

9,218

+6

 By product:

      

Finance leasing (£m)

319

+11

987

+7

3,876

+6

Operating leasing (£m)

476

-20

1,584

-15

6,412

-5

Lease/Hire purchase (£m)

1,610

+16

4,591

+5

17,083

+6

Other finance (£m)

195

-15

662

-23

3,116

-7

 

Note to editors:

  1. In 2017, FLA members provided £128 billion of new finance to UK businesses and households. £32 billion of finance was provided to businesses and the public sector. FLA members financed more than a third of UK investment in machinery, equipment and purchased software in the UK in 2017.
  2. For media enquiries, please contact the FLA press office on 020 7420 9656.

 

 

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