Car imports from UK soar as Brexit looms

DRIVEN by a favourable euro exchange rate against sterling, Ireland’s car import boom is picking up speed during the final countdown to Brexit, new data released by the foreign exchange specialist Fexco International Payments reveals.

Fexco’s data shows that during July and August, Irish motorists increased their spending on vehicles imported from the UK by 181% compared to the same two months in 2018.

The analysis of 1,500 transactions, made through Fexco International Payments, also found the number of UK vehicles imported by Irish drivers in July and August was up by 175% year-on-year.

The figures are even more breathtaking when compared to those recorded in July and August 2016, the months immediately following the UK’s Brexit referendum. Since then, Irish drivers’ spending on cars imported from the UK has jumped by an incredible 451%, and the number of import transactions has increased by 291%.

Martin Condon, Cavanaghs of Charleville, receiving the Ford Chairman’s National Award for Customer Satisfaction within the Ford Dealer Network from Ciaran McMahon, CEO Ford Ireland, on a recent visit to their premises on the Limerick Road, Charleville.