Official statistics released recently by the Society of the Irish Motor Industry (SIMI) show that new car registrations for the month of November were down -9% (687) when compared to (754) November 2016, with new cars registrations year to date down -10% (131,200) on the same period last year (146,215). Registrations in the new Commercial vehicle sector seen a decrease in the Light Commercial Vehicles (LCV) sector with registrations down -12% (580) on November 2016 (656) and year to date are down -14% (23,952). New Heavy Commercial Vehicles (HGV) have increased +83% for the month of November (130) compared to the same month last year (71) however are also down -13% (2,478) year to date. Used Imports continue to remain ahead with registrations for the month of November up 8% (7,952) while year to date they are 32% (87,929) ahead of 2016 (66,463).
Commenting on the figures SIMI Director General, Alan Nolan stated “As we approach the final few weeks of 2017, total registrations look set to finish in line with Economist Jim Power’s projection of 131,650 representing a decline of 10% on 2016. This has been a year of uncertainty for the Industry, as we experience the Brexit impact. Sterling weakness is contributing to increases in used vehicle imports which continue to influence used car values making Irish used cars cheaper but increasing the cost to change for car buyers which has impacted on new car volumes.
Although new car registrations have declined and are likely to decline again in 2018, the Industry overall has had what can be described as a reasonable year when considering previous registration totals in recessionary years. Looking towards 2018 Industry focus on the EV sector will increase. The 0% Benefit-in-kind incentive over 3-5years announced by the Government is hugely welcomed and will help increase the supply of EVs in the future years. While all vehicle fuel types continue to play an important role in the make up of our car parc, the replacement of older polluting cars remains a priority if we are to meet our climate change targets.”