UK Asset Finance Sector Sees 7% Growth in December 2024

February 19, 2025 - 16:25

The UK asset finance sector experienced a notable increase in new business during December 2024, with a growth rate of 7% compared to the same month in the previous year. This growth is indicative of a robust market, reflecting the ongoing demand for financing solutions in various sectors.

Throughout the entirety of 2024, the asset finance new business figures were also promising, showing a 3% rise compared to 2023. This consistent upward trend highlights the resilience and adaptability of the asset finance industry, as businesses continue to invest in essential equipment and vehicles to support their operations.

Particularly noteworthy was the performance in commercial vehicle finance and plant and machinery financing, which played a significant role in driving this growth. As companies look to modernize their fleets and enhance productivity, the asset finance sector remains a crucial component of the UK economy, providing businesses with the necessary resources to thrive in a competitive landscape.