Motor industry calling for reduction in VRT
VRT is far too high in Ireland according to motor industry bosses
Members of the Irish Motor industry are appealing VRT reduction as car sales take a plunge.
The call has gone out to reduce VRT as New car registrations for August were down 4.2% (4,875) compared to the same month last year 2019 (5,088).
The total number of cars sold this year so far is 78,920, which is down 28.6% on the same period last year, which seen 110,527 cars sold. Brian Cooke of SIMI said:
“August represents another disappointing month for new car sales, with sales again down on the same month last year, as they have been each month of 2020. This has led a year to date reduction of 29% in new cars sales, and a 43% reduction over the last 4 years.”
New car registrations were down in every county this year compared to last year and there was also a decrease in imported used cars of 16.1% going from 9,706 in August 2019 to just 8,143 in August 2020. Overall, so far this year, imports are down 45.1% (39,672) on 2019 (72,214).
Industry insiders are painting a bleak picture for the new car market next year, after the unprecedented events of 2020. Not only has there been a dramatic drop in new car sales, there has been a decrease of 16% of used car imports as well. The industry has also lost 15,000 jobs which has huge implications for the economy overall.