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UK asset finance new business grew by 2% in January 2025: FLA

Total asset finance new business (primarily leasing and hire purchase) grew in January 2025 by 2% compared with the same month in 2024, according to figures released by the Finance & Leasing Association (FLA).
The article from MSN Money discusses the growth in the UK's asset finance sector, reporting a 2% increase in new business for January 2025 according to the Finance & Leasing Association (FLA). This growth was driven by a 13% rise in business new car finance and a 10% increase in commercial vehicle finance. However, there was a decline in other areas, with plant and machinery finance dropping by 10% and IT equipment finance decreasing by 15%. Despite these declines, the overall market showed resilience with a slight increase in new business volumes. The FLA also noted that while the economic environment remains challenging, the sector's performance indicates a cautious optimism for recovery and growth in asset finance.

Read the Full GlobalData Article at:
[ https://www.msn.com/en-us/money/other/uk-asset-finance-new-business-grew-by-2-in-january-2025-fla/ar-AA1BkO9K ]