After a severe downturn in 2009, Ireland’s new car market is off to a positive start in 2010 according to data released by the Society of the Irish Motor Industry (SIMI).
Go deeper with GlobalData
SIMI has released the official figures for new cars registered in January 2010 which at 16,595 are up 5.04% on the same month last year.
In 2009, Irish car sales slumped by 62.1% to 57,460. From a high point of 186,000 units in 2007, Ireland’s car market fell by almost a fifth to less than 152,000 units in 2008 as the country’s speculative bubble burst and a sharp contraction to the economy followed.
Commenting on the January figures, SIMI Director General Alan Nolan said: “At 5% up on January last year, we are very pleased with new car sales so far this year. This is the second month in a row that we have seen an increase in registrations. Given that the first two weeks of January suffered a virtual standstill in trading due to the bad weather, the fact that the month has finished 5% ahead of last year is a very strong sign that consumers are availing of the incredible value that is available at the moment.
“While the snow and ice delayed registrations until well into the month, feedback from dealers around the country is indicating that the significant increase in footfall and in actual sales, in comparison to this time last year, is continuing. Dealers are also reporting that the scrappage scheme has been very well received by the public who are actively seeking out the best value in 2010 low emission cars.”
SIMI Press Officer Suzanne Sheridan added: “We expect the current trend to continue for the year to achieve the 70,000 plus new car sales that we predicted.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataMarket leader Ford noted that a scrappage scheme contributed to the uptick.
“The scheme is definitely arousing interest among prospective buyers,” said Eddie Murphy, Chairman and Managing Director, Ford Ireland. “Aside from solid orders, we’ve seen a strong level of enquiries which should bear fruit this month and next.”
“Alongside scrappage, some pent-up demand and a tentative degree of consumer confidence brought a lift in registrations in a month which had fewer selling days [than last year], and was disrupted by the inclement weather,” added Murphy.
“Clearly, people are also attracted by the many deals on offer. I expect the sales improvement to continue into February and beyond.”
