POS market dips in April

The Finance & Leasing Association (FLA) has found that new business in the point of sale (POS) consumer new car finance market fell two per cent by value and seven per cent by volume in April, compared with the same month in 2018.

The percentage of private new car sales financed by FLA members through the POS was 91% in the 12 months to April 2019.

The POS consumer used car finance market reported new business growth in April of four per cent by value and one per cent by volume.

Geraldine Kilkelly, head of research and chief economist at the FLA, said, ‘Trends in the POS consumer new car finance market continued to reflect private new car sales. Subdued consumer confidence has also contributed to a slowdown in the POS consumer used car finance market in recent months.

‘However, new business volumes overall in the first four months of 2019 held steady compared with the same period in 2018.’

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