Traders upbeat as new car sales rise 25%

The sales of new cars rose by more than 25% in the first three months of this year, with the motor trade on target to experience its strongest sales since 2008.

Latest results show a 26% increase on last year, according to figures released by both the Society of the Irish Motor Industry and car history investigators Motorcheck.ie. Both cite an improved economy and more readily available finance as the biggest contributors to the increase.

At the end of the first quarter of 2014, 50,000 new cars were registered, with the first quarter of this year outperforming all other periods since 2008.

Industry experts are now predicting total sales of 95,000 units for the year.

Alan Nolan, director general of the SIMI, said: “We are clearly starting from a low base but the most notable point has been the return of retail consumers to the marketplace and that can be seen both in showrooms and in the number of 141 cars visible outside homes, schools and shops. This has been significantly assisted by the improved availability of retail finance from the finance houses.”

His view was echoed by Michael Rochford, MD of Motorcheck.ie, who said: “It’s great to see the industry get back on its feet again after a number of very lean years.”

Almost 15,000 used cars were imported into the country in Q1, an increase of 23.2% on last year.

Driving on

-Car registrations for first quarter of 2014 up 25.4% against Q1 2013l

-Commercial registrations are also up 38.2%l

-Volkswagen is the top manufacturer, followed by Toyota, Ford, Hyundai, and Nissan;

-The top-selling model is the Volkswagen Golf, followed by the Ford Focus, Nissan Qashqai, Skoda Octavia, and Ford Fiesta.