Glasgow car finance company rides second-hand car wave but flags ‘areas of concern’

Startline Motor Finance said it saw a 30% year-on-year increase in the value of new business volumes written during the first quarter of 2022.

Managing Director Paul Burgess said: “Among the dealers and other introducers who carry our range of auto finance products, trade continues to be strong. In 2021, we saw an overall increase of approximately 25% in our business volumes and this level of growth continues.

“Consumer confidence in the sector appears to be resilient and there are also signs of easing from the stock-outs we have seen over the past two years. These and other factors have contributed to this performance.

Founded eight years ago, Startline employs 170 people at its headquarters in Skypark, Glasgow. It works with around half of the UK’s top 50 franchise dealerships by turnover, as well as 70% of the top 50 independent car dealerships.

Burgess pointed to some hurdles for the rest of the year.

“There are clearly a number of areas of concern,” he said. “The cost of living crisis is expected to worsen throughout the year while the impact of the situation in Ukraine is not yet clear, although it looks like it could affect quite significantly the production of new cars.

“However, market fundamentals remain strong and we believe the industry as a whole and Startline in particular are poised for 12 months of success.”

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