Park Logisitics - Creating Supply Chain Solutions

Park Logistics - Creating supply Chain Solutions

Creating Supply Chain Solutions
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Lending for trucks on the up

  • 09 June 2014
  • By Kevin Swallow

The amount of finance used to fund trucks and vans is up 19% during the first three months of the year to more than £1.38bn, according to the Finance and Leasing Association (FLA), suggesting that there is a broad-based recovery in investment.

FLA described the trend for investment in CV finance as remaining robust, with only investment in plant and machinery (up 21% to £1.23bn) and business equipment (up 21% to £499m) seeing more growth.

Road transport has seen its heavy truck marketplace transformed by the switch to Euro-6 emission limits, which has driven the demand for and investment in late-year used trucks, as well as more deals for trucks with repair and maintenance contracts. This is supported by the rolling 12-month figure to March this year, which is up 16% to more than £5.42bn.

Geraldine Kilkelly, head of research and chief economist at the FLA, said: “In Q1 2014, the asset finance industry returned its best Q1 performance for five years, and the pattern of growth suggests a broad-based recovery in business investment.”

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Article source: http://www.commercialmotor.com:80/latest-news/lending-for-trucks-on-the-up-3