New statistics from Motorcheck.ie show that the new car industry has suffered an unprecedented drop in sales of 73% for June 2013 when compared with June 2012.
This devastating result comes right before the introduction of the new 132 number plate bringing the total number of new cars registered for 2013 up to 52,978. That's 20% down on the 2012 total of 66,334 for the same period.
Commenting on the latest statistics Managing Director Shane Teskey said "The introduction of the 132 number plate from July 1st may have put some buyers off registering a car in June. The next week or so will be a very important period for an industry that's already in crisis".
Volkswagen maintain the top spot with 13% of sales, followed closely by Toyota with 11% and Ford at 10%.
The Volkswagen Golf remains Ireland's most popular model this year with 2,673 (5.1% of the total market) units sold. The Nissan Qashqai is in second place with 2,397 (4.5%) units registered whilst the Ford Focus takes third position with 1,938 (3.7%) registrations.
Diesel engines remain popular with 73% of the total. Six out of ten new cars registered were in Band A.
However it isn't all bad news for the exchequer as the number of imported second hand cars has grown by 41% in June and now totals 24,826 - an increase of 22% for the year to date.
The most popular car to be imported second hand is the Ford Focus with 2,039 registrations followed by the Audi A4 (1,461) and the Volkswagen Passat (1,361).