New car registrations for the month of August, were down 21 per cent (5,754) when compared to (7,297) August 2016, while new cars registrations year to date are down 10 per cent (124,711) on the same period last year (138,504), according to figures just released by the Society of the Irish Motor industry.
The new Commercial vehicle sector has also seen a decrease with Light Commercial Vehicles (LCV) registrations down 23 per cent (1,380) on August 2016 (1,797) and year to date are down 14 per cent (21,039). While new Heavy Commercial Vehicles (HGV) have declined -8 per cent for the month of August (204) compared to the same month last year (250) and are down 14 per cent (2,102) year to date.
Commenting on the figures SIMI Deputy Director General, Brian Cooke has called for no negative decisions in Budget 2018 stating: “Our Industry continues to experience a direct impact from Brexit in the market place. Used car imports for the month of August increased by 31 per cent (8,451) while year to date have increased by 40 per cent (62,161) and these numbers have a knock-on impact on used car values and new car sales volumes. The 1st of September marks the commencement of new EU Emissions testing regime (WLTP) for new cars which will bring more accurate information for consumers on emissions and fuel consumption.
Ahead of Budget 2018 our message to the decision makers is simple with this declining market there should be no negative taxation decision in relation to VRT, road tax, or fuel. The Industry is focused on offering alternative fuel solutions and the government can encourage customers to avail of these through a variety of incentives. Some car brands have already rolled out their own initiatives to encourage the removal of older vehicles with the purchase of new cleaner cars.”