Massive Increase in Car Finance Lending in 2nd Quarter

Good news in the new car market as finance lenders have been busy securing deals on new cars for personal buyers. The Glass’s Guide have reported the value of new car finance increased by 38% in Q2, with the number of cars bought on finance up by 27%, compared with Q2 in 2011.

This is great news for the automotive industry as sales have been steadily increasing since the major crash in 2008/09. This in turn should have a positive effect on the supply of used cars during Q3. There has been some excellent new car incentives rolled out which look to be a positive step forward in attracting more buyers to purchase new cars.

Portfolio Display is a leading supplier of Automotive Display products to the new and used car market and welcomes the news. Robert Walker, Director at the Portfolio Group explains “We are finally starting to see some positive news which is great for the industry. Dealerships need to continue to promote their businesses with a good supply of used cars and incentives on new cars. The hard work looks to be paying off, we hope it continues”.