The consumer new car finance market reported a fall in new business volumes of 18% in December compared with the same month in 2019. In 2020, new business volumes in this market fell by 25% compared with 2019. The percentage of private new car sales financed by FLA members in the twelve months to December 2020 was 93.2%, up from 91.7% in 2019.
The consumer used car finance market led the recovery in June as showrooms began to re-open. Monthly new business volumes in this market were back to normal levels following the record low reported in April.