New cars sold on dealer finance rose 13% in 2014 reach a record 897,593, according to the Finance & Leasing Association.
The percentage of private new cars sales financed through dealerships by FLA members reached a new high of 76.1% in the twelve months to December 2014.
The consumer used car finance market also recorded double-digit growth, up 14% to reach a new high of 1.05 million.
Geraldine Kilkelly, FLA’s head of research and chief economist, said: “There has been strong growth in consumer motor finance provided through dealerships by FLA members over the last couple of years.
“Our most recent industry confidence survey suggests that growth is likely to continue in 2015, but at a slower rate than in 2014.”
