Surge in Irish purchases of hybrids and used UK cars

The money spent by Irish buyers of second-hand cars imported from the UK doubled in the first half of this year, compared to the same period in 2018.

Surge in Irish purchases of hybrids and used UK cars

The money spent by Irish buyers of second-hand cars imported from the UK doubled in the first half of this year, compared to the same period in 2018.

Figures from Fexco Corporate Payments show that the euro’s strength against sterling boosted already strong interest, among Irish buyers, in UK used cars, with 107% more spent on second-hand imports during the first six months of the year.

The figures coincide with CSO data, which show a 6.5% fall in new cars licensed in Ireland in the first half of the year.

However, the CSO figures showed a 68.5% rise — to 9,150 — in the number of electric and hybrid new cars licensed in the first half.

Electric and hybrid vehicles account for 11.8% of all new private cars licensed since the start of the year, up from 6.5% at the halfway stage of 2018.

“It would be interesting to take a close look at the regional distribution of electric and hybrid vehicles — what makes them more popular in some counties than others,” said Insuremycars.ie managing director, Jonathan Hehir.

The more that Government, and others in the industry, can do to make e-motoring an easy and attractive proposition, the better.

The total number of used cars imported during the first half of the year rose by 2.4% — year-on-year — to 53,120.

“While Ireland’s car dealers were the first to spot the buying opportunities offered by cheaper British imports, the savings are now attracting growing numbers of individual buyers too,” said David Lamb, head of dealing at Fexco Corporate Payments.

“The UK has a much greater supply of used and nearly-new cars than Ireland, so a British used car will typically cost less than a similar model on this side of the Irish Sea,” he said.

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