The Society of the Irish Motor Industry (SIMI) this week issued their third Quarterly Motor Industry Review for 2016 in association with DoneDeal. The SIMI/DoneDeal Report highlights the strong performance in the first half of the year for the Industry followed by a slowing down of new car sales from August onwards.
Sales of new cars in Leitrim have increased by 11.5% for the first 9 months of 2016 compared to the same period in 2015. There were 621 cars sold between January and the end of September compared to 557 last year.
According to DoneDeal 2,481 car ads were placed on their site from Leitrim in the first 9 months of 2016 and the value of the cars advertised was €11,697,418.
Alan Nolan, Director General, SIMI, highlighted: “Car sales in Leitrim so far this year are particularly encouraging and this has been seen across the country. 2016 has seen the highest levels in new vehicle registrations since 2008, while some of these sales can be attributed to a catch up in the market overall it has been a good year for our Industry. New car sales so far have contributed €1.25 Billion to the exchequer 24% ahead on last year. With the peak selling months behind us the Industry has now turned its focus to the 171 registration period as can be seen and heard in current advertising campaigns. While 2017 brings with it an air of uncertain due to Brexit we would expect the Industry to continue to perform as economic indicators suggest increased spending power in the Irish economy in 2017.”
Sales across the country to the end of September 2016 were 143,190, up 18.4% on the first nine months of 2015. Based on this the SIMI/DoneDeal report forecasts final sales of 147,000 for 2016 with a similar outcome anticipated for new car sales in 2017.
The Review also indicates the changes in the costs of motoring since last year. The cost of a new car has decreased by 3.5% since September 2015, while the cost of petrol is down 5.0% and diesel is down 4.6% in those 12 months. However the price of motor insurance has increased 25.1% since September 2015 and is up 68.7% since September 2013.