New car sales are rocketing in Ireland. So far this the 95,000 sales mark has been passed and a possible market of around 110,000 has been predicted for next year.
“The 2015 market is looking like it could be as big as the good times for the industry back in 2008,” suggested Ford Ireland chairman and managing director, Eddie Murphy, at the launch of the new Ford Mondeo.
“It could be a market of 110,000, perhaps,” he added.
The lates figures released from SIMI (Society of the Irish Motor Industry) show that car sales were up 21% for the month of October (2,042) compared with the same month last year (1,692).
So far this year, 95,217 new cars have been sold, an increase of 30% on 2013 (73,454).
This is the first time in five years (2009: 56,315) that new car sales have reached 95,000.
Whether the improvement in the economy is real or otherwise, there is confidence among buyers and garages are reporting increased footfall.
People are not just curious, there are growing inquiries at all levels among possible purchasers from the simple run around car to the luxury end of the market.
The Commercial Vehicle market is even more positive, with light commercial/van sales up 51% (15,900) this year in comparison to 2013 (10,555).
The month of October (1,370) recording a strong sales increase, up 79% compared with October last year (766).
HGV (heavy goods vehicle) registrations are also up 12% for the month of October and 23% year to date.
Alan Nolan, Director General SIMI, said the positive registration figures for all sectors was a welcome sign of recovery for the industry, particularly the light commercial registrations which indicate a more general recovery in the wider economy.
“While the new car sales figures are encouraging, we must remember that we are still starting from a very low base,” he reminded.
“For sustainability the new car registration market needs to be operating at an annual level of 130,000.
“However, these figures are a sign of continued progress and that sales are currently moving in the right direction.
“The industry has also seen improved business levels through commercial sales and the rise in car sales also reflects improved consumer confidence, both demonstrating strong indicators of economic recovery.”