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New car finance sales rise 4% in AprilBack

CarSales3The number of new cars sold on finance in April grew 4% to 69,030 units, according to the latest figures from the Finance & Leasing Association.

In the 12 months to April, numbers were up 18% to 847,047 vehicles, reflecting the huge surge in PCP sales over the period.

For used cars, sales on finance rose 9% in April to 88,741 units and in the 12 months to April were up 20% to 975,164 units.

Geraldine Kilkelly, FLA head of research and chief economist, said: “April was a quieter month for the car finance market following a strong performance in March.

“Consumer car finance growth remained robust, with volumes 19% higher in the first four months of 2014 than in the same period last year.

“FLA motor finance providers are optimistic about future growth prospects. The Q2 2014 Retail Motor Finance Survey results showed that more than 60% of respondents expected new business growth in excess of 10% in each of the new car, used car and light commercial vehicle finance markets over the next year,” she said.

Source: Motor Trader

Posted by Sue Robinson on 13/06/2014