The Society of the Irish Motor Industry (SIMI), in association with DoneDeal, has just released the First Quarter Motor Industry Review for 2014, compiled by economist Jim Power (pictured above) who used data from SIMI and DoneDeal to look at all aspects of the motor industry and the socio-economic impacts on the area over the past several years, and specifically for Q1 of 2014.
Jim Power said the Motor Industry, having experienced a dramatic decline in its fortunes, is back in growth mode again and confidence within the industry is currently stronger than it has been for some time. He said "This is important for national and regional economic activity, employment and Exchequer receipts."
|Alan Nolan with the Report|
Commenting, Alan Nolan, Director General of SIMI said the results 'certainly leave us cautiously optimistic for the future of the industry'. "After six extremely tough years for the motor industry here, we seem to be stabilising and the projected figures are positive, but they are just projections.
"The cost of a new car is down, the cost of fuel is down and the Government has also helped the industry by keeping tax levels stable in the last budget. However, if the industry is to rebuild, it is essential that these structures remain in place as a foundation for us to plan the future on."