New car sales for the first two months of the year are up 28 per cent on the corresponding period last year, figures released by the Society of the Irish Motor Industry confirm.
The confidence evident in January has continued into February with a 21 per cent increase in car sales.
The light commercial vehicle market, which is a good sign of activity in the SME sector, saw an increase in salesof 41 perent in February with sales of Heavy Goods Vehicles, often a barometer of activity in the wider Economy, seeing a 68 per cenet increase.
Alan Nolan, SIMI Director General commented: “The Motor Industry is often the first to be affected when there’s a downturn and one of the first to come back when the economy improves. Dealers are undoubtedly seeing a lot more confidence among consumers, many of whom have been putting off making large purchases over the last few years. Feedback from dealers confirms that footfall and sales enquiries are holding up well and there is no doubt that it’s the return of consumers to the market, as opposed to business purchasers, that is fuelling the increased business. Better availability of finance for creditworthy consumers combined with improved consumer confidence have helped make this a very good start to 2014 for the Industry.”
As a result, employment in the sector has also been stabilising and February saw the formation of 37 new companies in the Motor Industry in February.”
