UK asset and auto finance markets fall more than one quarter in March

New business in the UK asset finance and auto finance markets fell more than one quarter in March as the Coronavirus lockdown began, according to new figures from the Finance & Leasing Association (FLA). Total asset finance new business (primarily leasing and hire purchase) fell by 28% during the month, compared to March 2019, pulling the market down 15% for the first quarter of the year, compared with the same period last year. IT equipment finance was the only asset sector to report growth in March, with new business up by 15% compared with the same month in 2019 as digital solutions became a priority for UK businesses. Over the same period, the commercial vehicle finance and plant and machinery finance sectors reported falls in new business of 32% and 23% respectively.

UK asset and auto finance markets fall more than one quarter in March

May 11, 2020

New business in the UK asset finance and auto finance markets fell more than one quarter in March as the Coronavirus lockdown began, according to new figures from the Finance & Leasing Association (FLA). Total asset finance new business (primarily leasing and hire purchase) fell by 28% during the month, compared to March 2019, pulling the market down 15% for the first quarter of the year, compared with the same period last year. IT equipment finance was the only asset sector to report growth in March, with new business up by 15% compared with the same month in 2019 as digital solutions became a priority for UK businesses. Over the same period, the commercial vehicle finance and plant and machinery finance sectors reported falls in new business of 32% and 23% respectively.

Market Data

White Clarke Group - German Leasing Market Update 2020

Apr 27, 2020

The German leasing sector reported a robust market ahead of the disruption caused by the Coronavirus, with growth in total volume to more than €60 billion, according to a new market report. The report has been released by White Clarke Group in association with the World Leasing Yearbook and provides an assessment of markets in the period up to mid-2019. It reveals that in 2018 the total volume of new business acquired in Germany was €60.7bn (as compared with €58.8bn in the preceding year).

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

Companies in the finance industry invited to support major research project into servitization

Jan 15, 2020

A major new research project will take a detailed look at how the sale of services linked to asset-backed financing can offer a compelling opportunity for auto and equipment finance companies so they can develop new income streams and profit growth. The servitization research project, developed by the International Asset Finance Network, in partnership with GrowCap, will look at how technology can increase customer satisfaction and encourage retention, while also building a competitive advantage over other more traditional finance organizations. It is looking for finance company partners to support the project. Participants will be able to use the results to develop their future business strategy.