Registration of new cars falls by massive 67%
A total of 10,997 new private cars were registered last month compared to almost 33,000 vehicles in January 2008 — a decrease of 66.6%.
Figures compiled by the CSO show the number of new goods vehicles also fell by 77% over the same period.
Fewer than 1,000 commercial vehicles were licensed last month against over 4,200 in the corresponding month last year.
The dramatic slowdown in car sales is evident since last summer when the number of new vehicles registered fell from over 27,300 in the third-quarter of 2008 to around 4,500 in the final quarter.
According to the CSO, the total number of new private cars registered last year was 146,470 — the second lowest annual figure in the past decade.
The Society of the Irish Motor Industry (SIMI) has already expressed fears for 3,000 jobs in the sector on top of a similar number of positions which have already been lost since September.
About 50,000 people work in the industry.
Six car dealerships have already collapsed since the start of the year, while industry sources indicated the slump in new car sales has continued in the first two weeks of February.
The dramatic decline in car sales had also had a major impact on vehicle registration tax which fell by 85% last month compared to the same period in 2008.
The tax take from VRT in January 2008 was €213m but just €32m was collected last month.
The latest CSO figures also show a significant switch in buyers of new cars opting for diesel models in preference over petrol vehicles — another sign that motorists are concerned about the cost of running their vehicle.
Almost 58% of new cars sold last month were diesel compared to just under 41% which use petrol. In contrast, just over 50% of all new vehicles sold last year were petrol models.
A total of 58 hybrid cars, which combine a use of petrol and electricity, were sold last moth, while 95 biofuel vehicles which use a combination of petrol and ethanol were licensed.
Figures on CO2 emissions show almost half of all new vehicles registered in January fell into the B tax band which costs €150 per year.
Only 183 vehicles or 1.7% of all cars sold last month were in the highest F-G bands. Of those, 113 had engine sizes over 2400cc.
The most popular make of new cars sold in January was Ford with sales of 2,039 followed by Toyota, Nissan, Volkswagen and Opel.
The SIMI has called on the Government to introduce a range of measures including a new scrappage scheme to provide assistance to the industry.
Finance Minister Brian Lenihan confirmed earlier this week that his officials were in discussions with SIMI representatives.
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