New and used car finance both rose
by 6% for July, compared to the same month in 2009. New car
business reached £424m, and used car volumes were up to £503m.
New car business in the year to
end-July 2010 was up by 28% compared to the year to end-July 2009.
For the rolling 12 months to end-July 2010 new car business
totalled £6.5bn, against £5.1bn for the same period to end-July
2009.
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By comparison, used car business
remained relatively flat, up by 1% to £5.7m in the year to end-July
2010, against £5.7m for 2009.
Other POS finance, direct unsecured loans and direct secured
loans all dropped off sharply for the year to end-July. Overall,
the motor finance market declined by 7% for the year to date. For
July 2010 it was down by 8% compared to July 2009.
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