05 Oct 2022

New car sales continue to fall as July registrations down 14 percent

New car sales continue to fall as July registrations down 14 percent

The Society of the Irish Motor Industry (SIMI) have released their official new vehicle statistics. New car registrations for July were down 14.1% (21,213) when compared to July 2019 (24,681).

While registrations year to date are also down 29.8% (74,069) on the same period last year (105,439).

Light Commercials vehicles (LCV) are down 5.5% (4,438) compared to July last year (4,697) and year to date are down 25% (15,009). HGV (Heavy Goods Vehicle) registrations are up 2.8% (258) in comparison to July 2019 (251). Year to date HGV's are down 28.8% (1,461).

Used car imports for July (8,744) have seen a decrease of 6.8% on July 2019 (9,382). While year to date imports are down 49.6% (31,531) on 2019 (62,508).

Brian Cooke, SIMI Director General commenting on the market figures said: “While the July registration period did bring much needed activity back to showrooms, new car sales continue to disappoint, with another monthly fall. This is despite the fact that many quarter 2 sales had been pushed back into the 202 registration plate. Covid-19 on the back of Brexit and an already falling new car market since 2016, now sees new car sales back to recession levels, down 30% year to date. Looking further into the numbers, new car sales will fall for the fourth consecutive year, with a staggering 44% reduction over the last 4 years. This slowdown is materially undermining the renewal of the National car fleet, which is not only bad for profitability and regional employment, but is also hampering Ireland’s efforts to reduce transport emissions. With the Budget only two months away, we need to see a reduction in VRT, to allow the car market return to normal sustainable levels, which will reduce both the age of the fleet and emissions.”

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