Sales of new cars expected to drop by 18%

OVERALL sales of new cars during 2008 are expected to show an 18% reduction on the previous year, with a further slump in sales predicted for 2009.

The Society of the Irish Motor Industry has estimated that just 152,000 new cars were sold last year — 34,500 fewer than the number sold in 2007.

But the SIMI is also forecasting that car retailers will be lucky if new car sales can break 100,000 this year, due to the economic downturn.