Figures released today by the Finance & Leasing Association (FLA) show growth in asset finance new business (primarily leasing and hire purchase) of 13% in January 2015, compared with the same month in 2014.
New business was up by the same rate in the twelve months to January 2015.
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Plant and machinery finance grew by 12% in January compared with the same month a year earlier, while IT equipment finance and business equipment finance grew by 49% and by 10% respectively over the same period.
Geraldine Kilkelly, Head of Research and Chief Economist, said: "The asset finance market has made a good start to 2015, with growth continuing across key asset sectors. The percentage of UK investment in machinery, equipment and purchased software financed by FLA members increased from 26.2% in 2013 to 27.2% in 2014, reaching its highest level since 2011."
| Jan 2015 | % change on prev. year | 3 months to Jan 2015 | % change on prev. year | 12 months to Jan 2015 | % change prev. year | |
|---|---|---|---|---|---|---|
| Total FLA asset finance (£m) | 1,915 | +13 | 6,424 | +12 | 25,587 | +13 |
| Total excluding high value (£m) , |
1,881 | +12 | 6111 | +9 | 24,765 | +13 |
| Aircraft, ships and rolling stock finance (£m) | 35 | +461 | 129 | +12 | 292 | -2 |
| Plant and machinery finance(£m) | 387 | +12 | 1,346 | +26 | 5,441 | +21 |
| Commercial vehicle finance(£m) | 451 | +7 | 1,426 | -5 | 5,858 | +11 |
| IT equipment finance (£m) | 102 | +49 | 506 | +22 | 1,657 | +7 |
| Business equipment finance (£m) | 175 | +10 | 559 | +14 | 2,202 | +12 |
| Car finance (£m) | 545 | +7 | 1,742 | +9 | 7,677 | +14 |
