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UK Motor Finance 2003
Datamonitor, Sep 2003, Pages: 182
Introduction:
Spurred on by low interest rates, the consumer credit market has soared in recent years. But while direct lenders have reaped the rewards of this growth, the point of sale motor finance has seen its growth slow. So, what will the market look in five years time and what should finance providers do to guarantee their future survival? UK Motor Finance 2003 provides the answers to these questions.
Scope:
- Sizes the UK's point of sale motor finance market, individually focusing on different product categories.
- Examines two-tiered relationship between finance providers and dealers and car buyers, focusing on historic and future trends.
- Estimates market share of leading independent point of sale motor finance providers in terms of gross advances in 2002
- Provides gross advances forecasts to 2007 under 3 different scenarios for the total motor finance market, as well as individual product categories.
Report Highlights:
In terms of gross advances, the UK motor finance sector stood at £11.7 billion in 2002, growing by 21.3 per cent since the market downturn of 1999-2000. Despite this increase, its share of the total consumer credit market was down to just 6 per cent. Unsecured personal loans, credit cards and overdrafts have all achieved exceptional growth rates.
By the end of 2002, independent finance providers accounted for just 50.5 per cent of the point of sale motor finance market. The independent sector was dominated by the 'big four', with Blackhorse Motor Finance controlling the largest individual market share.
Under Datamonitor's neutral forecast, growth in motor finance gross advances will stabilize at 4.1 per cent per year on average over the next five years, reaching £14.1 billion in 2007. However, should the UK economic situation falter, the motor finance market will face a very different future.
Reasons to Purchase:
- Gain a valuable insight into dealers' attitude towards their finance providers with the help of Datamonitor's Motor Finance 2003 B2B survey.
- Benchmark your company against the major players in the motor finance market and understand the threat posed by direct lenders.
- Plan your future strategy with confidence using Datamonitor's forecasts of the UK's motor finance gross advances in the years to 2007
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