New Car Sales Up 13.5% in August
In our latest study, we found out that, there was a steady increase in the number of new cars sold in the month of August compared to the number of new cars sold in the same month in 2015. We noticed an increase of 13.5% compared to the same month last year.
In what the industry experts describe as a stable growth, reasonable financing options and attractive discount deals helped see 138,278 new cars being sold by August 2016, which is already more than the total number of Vehicles sold during 2015.
The figure shows that Volkswagen Golf was the most popular model amongst the new Vehicles sold in August. It was closely followed by Hyundai Tucson, Skoda Octavia and Volkswagen Passat. Together these vehicles make up almost 16% of the overall new cars sold in August.
At the start of the year, January showed a 30% increase in new vehicle registrations from last year with close to 40,000 vehicles being registered across Ireland. February grew by nearly 37% while March jumped up 14% in total. April grew in new car sales by 10%. May saw a decline of 6% compared to figures in 2015. June and July too, showed continuous growth with new vehicle registrations increasing by 11% & 8% respectively.
Talking about August's figures, Justin Kavanagh, Managing Director of MyVehicle.ie, said, "although traditionally, August is supposed to be a quiet month with most people being away on holidays. The availability of finance to individuals at low-interest rates from finance institutions have played a key part in the growth of new car sales over the past couple of years."