Car finance new business fell 7% year-on-year to £3.9bn in September, as lower car deliveries from manufacturers dragged on point-of-sale lending volumes, according to figures from the Financing and Leasing Association (FLA).
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BMW and Daimler’s plan to tie up car-sharing and on-demand car services has been given the go-ahead by the European Commission, paving the way for consolidation in the budding and highly competitive alternative mobility market.
The average price of used cars under 24 months old surged by more £1,000 over the past quarter, auctioner Aston Barclay said, as dealers invested in second-hand stock to supplement a shortage of deliveries from manufacturers.