SMALL DECLINE IN NEW CAR REGISTRATIONS

SALES of 182 registrations are down slightly on the previous year in Co Wicklow, according to figures released by The Society of the Irish Motor Industry.

New car registration in the county experienced a decrease of 1.28 per cent in July. There were 2,466 new registrations this year compared to 2,498 in July 2017.

The report highlights that Ireland’s economic indicators continue to evolve in a positive manner, pointing towards an expanding economy, as consumer spending continues to improve at a steady rate.

However, the depreciation in the value of Sterling since the end of 2015 has made life more difficult for the Irish motor trade, with new car sales being displaced by used imports from the UK.

Used car imports have increased by 11.7 per cent, aided by the weakness in Sterling, as the motor industry continues to experience uncertainty, with monthly declines in new car registrations figures, reflecting the substantial impact of Brexit.

Jim Power, economist and author of the SIMI report said: ‘The economic fundamentals that underpin new car registrations look set to remain positive but continued strong growth in used imports will continue to undermine new car sales.

‘For 2018, the used import market is projected to grow by around 12 per cent.’