FIGURES RELEASED by the Society of the Irish Motor Industry (SIMI) show new car sales for the month of July were down 77 per cent, compared to the same period in 2008.
Just 3,759 new cars were registered in July, compared to 16,386 in July 2008. However this fall in sales is not as dramatic as it might appear, as July 2008 marked the changeover to the current emission-based VRT system and so sales were unusually high.
Brian Cooke of SIMI said: “There has been a drop in sales from July last year but last July’s figures were just as we converted to a new VRT system and many new car owners were waiting until then to purchase their new car.
“This dynamic is not there this year. July is traditionally a quiet month for trading in the motoring industry in terms of new cars.”
Overall car sales for the year remain 64 per cent down compared to year-to-date figures for 2008, with just over 50,000 cars registered.
“We have seen an increase in used car activity in dealerships but the main obstacle for customers seeking to buy continues to be the lack of available finance,” said Mr Cooke.
Figures for the number of imported used cars is also down significantly. Just 3,641 used cars were imported in July, compared to 7,233 in July 2008, which equates to a drop of 49 per cent.