Latest news for Finance and Leasing Association FLA 
Less than 10 percent of attempted motor finance frauds succeed(03/09/2010)
According to the Finance & Leasing Association's statistics, only 8.7% of attempted motor finance frauds succeed. And of those that do succeed, 44% of the cars involved are recovered by lenders. The FLA statistics reveal that in Q2 2010, there were 2,361 cases of attempted or suspected motor finance fraud. Rigorous checks by dealers and finance companies kept the actual number of cases where the fraud was not spotted down to 224. This figure i... [more]
Car Crime Awareness Week to raise awareness of motor fraud(19/05/2010)
In 2009, FLA members that provide motor finance reported that there were more than 11,000 attempts to obtain fraudulent car loans in the United Kingdom. Had these attempts not been caught during lender checks, it would have resulted in loans worth £133 million being granted to fraudsters. The car finance industry has teamed up with a specialist police unit to crack down on cases of car finance fraud, at a time when attempted fraud is on the incre... [more]
First increase in dealer finance provided to consumers for new cars in over a year(28/10/2009)
Sales of new cars bought by consumers using dealer finance have grown for the first time since July 2008, according to figures published by the Finance & Leasing Association (FLA). In August, the number of new cars sold with dealer finance to consumers increased by 4% compared with the same month last year (see table below). While this is welcome, a recent survey of FLA members confirmed that the high cost and restricted availability of wholes... [more]
Crack down on car finance fraud(25/03/2009)
Members of the Finance and Leasing Association - who provide car finance to consumers - reported that 10,500 fraudulent motor finance agreements were caught by screening processes at the application stage in 2008. These agreements, if approved, would have resulted in loans worth £123,423,000 being granted to fraudsters. A crack down on car finance fraud last year saved the motor finance industry £123 million. Finance companies' efforts to com... [more]
Other car news
India auto sales climb 7.2% in January: industry
New car sales in India climbed 7.2 percent year-on-year in January as the sector showed further signs of recovery from its slump in 2011, an industry body said on Wednesday.
Car sales head for first annual fall in 10 years
NEW DELHI (Reuters) - Annual car sales in India are likely to drop for the first time since 2002 in the fiscal year ending March after January sales fell short of expectations, an industry body said. Car sales, which grew 30 percent in the year ending March 2011, posted their first monthly fall in three years last July as high financing and running costs deterred buyers. "The car industry is too ...
India car sales head for 1st annual fall in 10 years
NEW DELHI (REUTERS) - Annual car sales in India are likely to drop for the first time since 2002 in the fiscal year ending March after January sales fell short of expectations, an industry body said.
Car sales may see 1st decline in a decade
Car sales look headed for their first annual decline after more than a decade as poor demand throughout 2011-12 will see the industry end up the year in red, auto industry body Society of Indian Automobile Manufacturers (Siam) said.
Car sales to fall in 10 years despite growth in January
Car sales grew for the third straight month in January by 7.2 percent, but the industry for the first time since 2002 is expected to miss its annual sales target of up to 2 percent, data released by the manufacturers Wednesday showed.
Car sales grew 7.2 percent in January
New Delhi, Feb 8 (IANS) Car makers started 2012 on a positive note, with sales up 7.2 percent in January -- the third consecutive month of gains after a lacklustre 2011, according to data released by an industry body Wednesday.
Holiday hits China auto sales in January
The year of the dragon rolled in with a whimper instead of a roar for China's auto industry. Car sales in the world's biggest auto market fell 24 percent in January from a year earlier, industry figures show.
China's Jan auto sales fall 24 pct, hit by holiday
The year of the dragon rolled in with a whimper instead of a roar as Chinese industry data showed Thursday that passenger car sales in the world's biggest auto market fell 24 percent from a year earlier.
Toyota official sees 2012 Philippine car sales growing 7%
The Philippine car industry will recover this year with sales increasing by 7 percent to 177,000 units from 165,000 in 2011, Rommel Gutierrez, Chamber of Automotive Manufacturers of the Philippines president, told GMA News Online.
New UK car sales edge higher in January: industry data
Sales of new cars in Britain crept higher in January, official figures showed on Monday, as the market showed encouraging signs of stabilisation.
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