New car sales continue to rise as the motor trade looks on target to experience its highest sales since 2008 according to figures released today by car history experts Motorcheck.ie, writes Trish Whelan.
At the end of the first quarter of 2014, almost 50,000 new cars have been registered, an increase of 25.4 percent on the same period last year. Industry experts are now predicting total sales of 95,000 units for the year.
Michael Rochford of Motorcheck.ie said sales in the upcoming second quarter are bound to slow down a little which is to be expected now that we have a dual registration system. "Many buyers will now begin to postpone their purchase until July when 142 registrations come into play. But this will assist sales in the second half of the year," he added.
The increases are largely being attributed to the availability of finance and specifically the PCP offers (Personal Contract Plans) being marketed heavily by the manufacturer. Motorcheck.ie estimate that at least one third of all new car sales are being financed. Another reason is the large number of buyers who returned to the market who may have deferred their purchase in previous years.