New car sales DIP as drivers spend their money on imports b

  • New car sales DIP as drivers spend their money on imports b
    Independent.t. E.
    Economic boom without being reflected in new car buying, how to use the UK imports thousands of tempting to spend your money on older, less expensive cars.
    https://www.independent.ie/business/irish/sales-of-new-cars-dip-as-drivers-spend-their-money-on-used-imports-37178568.html
    https://www.independent.ie/business/article37152762.ece/49ad8/AUTOCROP/h342/2018-05-03_bus_40621712_I1.JPG

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Economic boom without being reflected in new car buying, how to use the UK imports thousands of tempting to spend your money on older, less expensive cars.

New car registrations, on 182-reg period, from 1 July – only marginally down (PC 2.75, 26,944) on the corresponding month last year. But the rise 11pc in the use of imports.

Recent statistics show Simi new car purchase this year (114,059) is 4.09 PC in the first seven months of 2017.

The industry predicts that the total-year purchases around 125,000 (4.8 PC). Significantly, however, they predict 12 PCs sharp increase in imports of great Britain for a whole year. That would bring the numbers 104,660.

In other words there will only be 20,000-vehicle gap between the new and the UK to buy. Some in the industry predict an even greater number of imports.

And yet, despite the dip in sales to the Treasury raked in €985.9 m in taxation – 1.9 campaign PC.

The report shows how the most popular models this year are: 1. Hyundai Tucson 2. Nissan Qashqai 3. VW Golf 4. Ford Focus 5. Skoda Octavia.

In the top five selling brands of cars: 1. Volkswagen, 2. Toyota 3. Hyundai 4. Ford 5. Nissan.

Looking ahead to the rest of the year, economist Jim power, who is also the author of Symi, the report says: “economic fundamentals that underpin new car registrations look set to remain positive, but still strong growth of the import of used will continue to undermine sales of new cars.”

LAN Nolan, Director General Simi said: “the registration in the commercial sector, in particular, is showing positive signs of growth, with enterprises investing in upgrading the fleet.”

And there was a ‘noticeable increase’ in registration of electric vehicles. Although currently only a small percentage of the market, said Mr. Nolan, to continue to grow in the coming years.

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