The Society of the Irish Motor Industry (SIMI) Second Quarter Motor Industry Review for 2014, compiled by Economist Jim Power, claims that the motor business is continuing to bounce back after 6 years of a downturn. New car sales are up by 23% in the first half of the year, already selling more than in all of 2013.
New car sales have increased month by month in each county around the country. Leitrim has seen the biggest increase in new car sales in 2014, up 51% for the first half of 2014. Dublin has showed the lowest increase at 14% but it’s Dublin that has the highest percentage of new car sales with 38% of all new cars being sold in the capital.
Economist Jim Power, who compiled the review, said; “This report shows that the motor industry and the Irish economy is continuing on its road to recovery. While consumer confidence took a hit in May, it is still increasing. This looks set to be the most positive year for the Irish economy since 2007 with the motor industry being a key driver in this, contributing 3.4% of the total tax revenues collected in the first six months of 2014.”
The review also sees positive figures in the light and heavy commercial vehicle sales. Light commercial vehicle sales are up 36% from the first half of 2013, while heavy commercial vehicle sales are up 45%.
The review also revealed that the most popular car body type in 2014 in hatchback (35%), diesel is the most popular fuel type (73%), with the most popular colour being silver (21.5%).
As part of the Second Quarter Review, SIMI also undertook a survey of its members on issues within the industry. SIMI members said that 69% of new car sales were directed from the internet.
On safety, they said that over 67% of cars presented for repair now were worse than pre-recession (2007). 88% of vehicles presented for repair have dangerous tyres while 42% have a dangerous suspension.
SIMI Mid-Year Review - Key points compared with 2013
23% increase in new car sales in 2014
The Exchequer take from motor sales is €629.3 million for the first half of 2014, up 23%
Petrol and diesel prices are both lower in 2014
Motor insurance costs are 7% higher
The cost of a new car is 3% lower
Dublin has the lowest increase in new car sales (+14%)
Leitrim has highest increase in new car sales (+51%)
Imported used cars accounted for 31% of those newly registered in 2014
The Society of the Irish Motor Industry (SIMI) Second Quarter Motor Industry Review for 2014, compiled by Economist Jim Power, claims that the motor business is continuing to bounce back after 6 years of a downturn. New car sales are up by 23% in the first half of the year, already selling more than in all of 2013.
New car sales have increased month by month in each county around the country. Leitrim has seen the biggest increase in new car sales in 2014, up 51% for the first half of 2014. Dublin has showed the lowest increase at 14% but it’s Dublin that has the highest percentage of new car sales with 38% of all new cars being sold in the capital.
Economist Jim Power, who compiled the review, said; “This report shows that the motor industry and the Irish economy is continuing on its road to recovery. While consumer confidence took a hit in May, it is still increasing. This looks set to be the most positive year for the Irish economy since 2007 with the motor industry being a key driver in this, contributing 3.4% of the total tax revenues collected in the first six months of 2014.”
The review also sees positive figures in the light and heavy commercial vehicle sales. Light commercial vehicle sales are up 36% from the first half of 2013, while heavy commercial vehicle sales are up 45%.
The review also revealed that the most popular car body type in 2014 in hatchback (35%), diesel is the most popular fuel type (73%), with the most popular colour being silver (21.5%).
As part of the Second Quarter Review, SIMI also undertook a survey of its members on issues within the industry. SIMI members said that 69% of new car sales were directed from the internet.
On safety, they said that over 67% of cars presented for repair now were worse than pre-recession (2007). 88% of vehicles presented for repair have dangerous tyres while 42% have a dangerous suspension.
SIMI Mid-Year Review - Key points compared with 2013
23% increase in new car sales in 2014
The Exchequer take from motor sales is €629.3 million for the first half of 2014, up 23%
Petrol and diesel prices are both lower in 2014
Motor insurance costs are 7% higher
The cost of a new car is 3% lower
Dublin has the lowest increase in new car sales (+14%)
Leitrim has highest increase in new car sales (+51%)
Imported used cars accounted for 31% of those newly registered in 2014 
This is a subscriber-only article
SHARING OPTIONS: