August car sales down 31% despite hopes of a rebound

DESPITE the significant reduction in the cost of cars under the new Vehicle Registration Tax (VRT) rules, sales plummeted yet again last month.

In August 2008, 6,822 new cars were licensed — 31% fewer than the 10,006 licensed in the same month last year, according to the Central Statistics Office.

The reduction is despite changes in the way vehicle registration tax is charged, which came into effect on July 1. From that date cars with lower CO2 emissions have been made significantly cheaper.