10 November 2016

New car sales to hit 147,000 for 2016

New car sales for 2016 are expected to finish at 147,000, the highest level in new vehicle registrations since 2008, writes Trish Whelan.

A similar outcome is anticipated for new car sales in 2017.

The Society of the Irish Motor Industry (SIMI) report recently issued their third Quarterly Motor Industry Review for 2016 in association with DoneDeal. The report was compiled by economist Jim Power.

The report highlighted the strong performance in the first half of the year for the Industry followed by a slowing down of new car sales from August onwards, and urges caution for 2017.

It shows new car sales at 143,190 for the first three quarters of 2016 are 18.4pc higher than 2015; that new car sales so far have contributed €1.25 billion to the Exchequer which is 24.0pc ahead of the take for 2015.

Other statistics showed that 48,943 cars were imported from the UK which is up 38.9pc on 2015.

The cost of a new car is down by 3.5pc cheaper than September last year while the cost of petrol is down 5.0pc and diesel down 4.6pc in the last 12 months. However, motor insurance costs have increased by over 25pc since September 2015 and are up 68.7pc since September 2013.

Sales of light commercial vehicles are up by just over 20.0pc while those of heavy commercials are up by 38.6pc.

Pictured above are Alan Nolan Director General SIMI; Cathal Cremen, Commercial Manager of DoneDeal’s Motor Section; and Jim Power author of the SIMI/DoneDeal Report.