The latest Society of the Irish Motor Industry (SIMI )/Done Deal Motor Industry Review has highlighted a strong performance in the first half of the year for the industry, followed by a slowing down of new car sales from August onwards.
Sales of new cars in Westmeath increased by 16.3 per cent for the first nine months of 2016 compared to the same period in 2015. There were 2,168 cars sold between January and the end of September compared to 1,864 last year. According to DoneDeal, some 11,157 car ads were placed on their site from Westmeath in the first nine months of 2016 and the total value of the cars advertised was €114,764,160.
Alan Nolan, director general at the SIMI, said: “Car sales in Westmeath so far this year are particularly encouraging and this has been seen across the country. 2016 has seen the highest levels in new vehicle registrations since 2008, while some of these sales can be attributed to a catch-up in the market overall it has been a good year for our industry. New car sales so far have contributed €1.25 billion to the Exchequer, 24 per cent ahead on last year.
“With the peak selling months behind us the industry has now turned its focus to the 171 registration period as can be seen and heard in current advertising campaigns. While 2017 brings with it an air of uncertainty due to Brexit, we would expect the industry to continue to perform, as economic indicators suggest increased spending power in the Irish economy in 2017.”
Sales across the country to the end of September were 143,190, up 18.4 per cent on the first nine months of 2015. Based on this, the SIMI/DoneDeal report forecasts final sales of 147,000 for 2016 with a similar outcome anticipated for new car sales in 2017.
The review also indicates the changes in the costs of motoring since last year. The cost of a new car has decreased by 3.5 per cent since September 2015, while the cost of petrol is down 5 per cent and diesel is down 4.6 per cent in those 12 months. However, the price of motor insurance has increased 25.1 per cent since September 2015, and is up 68.7 per cent since September 2013.
To view the full SIMI Motor Industry Review in association with DoneDeal visit www.simi.ie/quarterlyreview
