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Vertu Motors Plc

UK used car finance market exceeds new car sector in April

Used car finance continued to drive the UK vehicle finance market in April, according to new figures released by the Finance & Leasing Association.

While new business in the point of sale (POS) consumer new car finance market fell 2% by value and 7% by volume in April, compared to the same month in 2018, demand in the used car market grew 4% by value and 1% by volume over the same period. The value of advances for new cars was £1,603 million, compared to £1,632 million in the used car market.

Vertu Motors Plc (LON:VTU) operates as an automotive retailer in the United Kingdom. The company sells new cars, motorcycles, commercial vehicles, and used vehicles, as well as provides related aftersales services. It operates a chain of franchised motor dealerships under the Bristol Street Motors and Macklin Motors brand names.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.