New business volumes in UK leasing have
risen more than 20% in key asset classes.
Commercial vehicle finance, IT equipment
and plant and machinery finance have all grown by over 20% in
February 2012 year-on-year, according to new data by the Finance
& Leasing Association (FLA).
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Volumes in car and business equipment
finance have increased by 2% and 5% respectively in the same
period.
The same five asset classes also
experienced year-on-year growth in the 12 months to February, with
the most significant increase in commercial vehicles – up 21% on
the previous year.
The big ticket assets of aircraft, rolling
stock and shipping more than doubled year-on-year in February to
£63m.
FLA members generated £1.6bn in total
business over the month, a 10% increase on the previous year.
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By GlobalDataThe data also showed asset finance provided
£21.2bn for businesses which invested in equipment in the last 12
months – and during 2011, asset finance helped fund 27% of all
fixed-capital investment in the UK.
Geraldine Kilkelly, chief economist and
head of research at the FLA, said: “For some businesses asset
finance helps them to replace ageing equipment, while for others it
helps them to expand and grow. Whatever the reasons, asset finance
plays an important role in funding business investment and in
contributing to the economic recovery.”
