New car sales up nearly 20% for 2016

The price of motor insurance has increased 25.1% since September 2015 and is up 68.7% since September 2013.

New car sales up nearly 20% for 2016

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The Irish motor sales industry has performed well in 2016 with new car sales up nearly 20% so far this year.

The latest report from the Society of the Irish Motor Industry (SIMI) shows new car sales are at 143,190 - up 18.9% - for the first three quarters of 2016 with the end of year figure expected to settle at around 147,000.

The SIMI/DoneDeal Report highlights a strong performance in the first half of the year for the Industry followed by a slowing down in sales from August onwards. 

Economist, Jim Power - who authored the report - said there have been clear signs of a slow-down in the industry over recent months and warned the outlook for 2017 is “extremely uncertain.”

According to the figures, 2016 saw widespread changes in the costs of running a car in Ireland.

The cost of a new car has decreased by 3.5% since September 2015, while the cost of petrol is down 5.0% and diesel is down 4.6% in those 12 months.

However the price of motor insurance has increased 25.1% since September 2015 and is up 68.7% since September 2013.

Alan Nolan, SIMI director general said new car sales have contributed €1.25bn to the exchequer this year - a rise of 24% 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,” he said.

“ While 2017 brings with it an air of uncertainty due to Brexit we would still expect the Industry to continue to perform well, as economic indicators suggest increased spending power in the Irish economy in 2017.”

Roscommon saw the strongest growth in car sales this year at 30.9%, while Leitrim saw the weakest at 11.5%.