While business confidence for the next six months remains high among motor finance professionals, there was a slight drop compared to the situation six months ago, according to an exclusive Motor Finance (MF) survey.

MF asked industry professionals whether they expected the amount of business they did to increase or decrease over the next six months.

A total of 26% said they expected it to increase substantially, and 52% said they expected it to increase. The remainder said they expected it to stay more or less the same, with none expecting it to fall.

In comparison, when MF asked the same question in January 2015, 31% said they expected business to increase substantially, 63% said it would improve. Just 6% said it would stay the same.

Similarly, when asked about new car sales levels, industry experts were generally positive, albeit less positive than six months prior.

In January, 67% said they expected new car sales to increase, while 33% said they expected them to remain more or less the same. In contrast, , in June, half of respondents said they expected new car sales to increase, 39% expected them to remain roughly flat, and 11% said they expected them to fall.

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The MF Confidence Survey is a half yearly survey, polling industry experts about their opinions on topics ranging from business confidence and the impact of the FCA, to car registration growth and residual values. The full set of results, along with detailed analysis will be published in the July issue of Motor Finance