Strong demand for motor finance

Figures released today by the Finance & Leasing Association (FLA) show a good performance from the motor market in the first six months of the year, with consumer new car finance growing 31% by value.

Finance for commecial vehicles is also showing growth in 2013, according to the organisation.

Paul Harrison, head of motor finance at the FLA, said: "These continuing healthy figures support a general picture of improving consumer confidence. With interest rates set to remain low, there appears to be a positive outlook for consumer demand."

Julian Rose, head of asset finance, at the FLA added: "New investment in business equipment is a good indicator of future business growth, so these figures augur well for SME sales growth and employment trends over the rest of 2013."