For the first time this year, new cars sales have remained static. Figures reveal that during April 17,413 new cars were sold - an increase of just 12 cars compared to April 2005 when 17,401 motorists drove out of the showroom in a new car.
This is the first time in the last four years that sales during the month of April have not increased significantly.
The news could come as a shock to many within the motor industry who were predicting another boom year in the showrooms. However, while sales may have faltered last month they are still on target to top 180,000.
New car sales have been showing healthy growth since 2004. Last year, 11.5 per cent - or over 17,500 - more new cars were sold than in 2004. While in 2004, almost 9,000 more new cars were sold than in 2003. And so far this year, 6,953 more new cars have been sold than during the first four months of last year.
April's minimal increase can be easily explained, says economist Bernard Feeney from Goodbody Economic Consultants, who points to Easter falling in April as the main cause of the decline in sales.
According to Cyril McHugh, chief executive of the motor industry representative body, SIMI, the levelling of new car sales is not a significant concern.
"Sales can't grow every month and when we take year-to-date sales, there is still a 6.6 per cent increase over last year, which is a very healthy increase," he said. "Obviously a lot of SSIA savings haven't had an effect yet and those people who borrowed on the back of their savings to buy a new car did so in January."
The flattening of sales could also be the precursor to something more. Rising interest rates could be forcing some new car buyers to think again. However, according to Feeney this is not likely. "Interest rate rises have been minimal so far and while fuel prices have increased, this is not significantly affecting consumer spending."
Indeed, according to McHugh the motor industry remains confident of a bumper year. "We are still on target to sell in excess of 180,000 new cars this year - that by any standards is very good."
April's new car sales statistics also revealed the winners and losers during the month. While Toyota remained comfortably in its place as Ireland's favourite marque selling almost 2,700 new cars in April, Ford, which has always been a contender for the top position, saw its sales fall.