New car registrations down 9% in November
New car registrations down
New industry figures have revealed that new car registrations were down 9% to 687, for the month of November.
This is happening as the industry prepares for sales of 181 cars in January.
New cars registrations have slowed down rapidly by 10% to 131,200 compared to the same time in 2016.
In contrast to that, used car imports are continuing to remain ahead with registrations for the month of November up 8% to 7,952.
So far this year, used imported sales are 32% higher at 87,929 compared to a figure of 66,463 the same time last year. This may be as a direct result of sterling weakness which has encouraged people to buy second hand cars in the UK and import into Ireland.
The Director General of SIMI's Alan Nolan said that 2017 was a year of uncertainty for the car industry, as it experienced the impact of Brexit.
"Sterling weakness is contributing to increases in used vehicle imports which continue to influence used car values making Irish used cars cheaper but increasing the cost to change for car buyers which has impacted on new car volumes,"
"Although new car registrations have declined and are likely to decline again in 2018, the industry overall has had what can be described as a reasonable year when considering previous registration totals in recessionary years,".
Justin Kavanagh is a recognised leader in automotive intelligence and vehicle data supply to the entire motor industry. He has almost 20 years experience in building systems from the ground up. As the Managing Director of Vehicle Management System, he understands the need and importance of trustworthy and reliable vehicle history and advice to both the trade and the public.
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