The latest Car Registration Stats provided today by Irish car data experts www.Motorcheck.ie show that Car registrations have dropped by 30% since 2016.
In 2016, there were 29,792 new vehicles registered in July, which drops to 20,775 in 2017. This is the lowest number of newly registered cars since recession era. In 2014, during the same time period 18,667 new cars were registered.
This is a surprise turn, as car registrations were on the up in 2015, and saw an increase again in 2016 but the trend bucked in 2017 when July only received 20,775 new car registrations. This is dire news for the new car trade, but the used car industry has benefited greatly.
Used cars imported from the UK, and further afield, have increased by almost 40%, with over 53,000 used imported cars being registered since January the 1st 2017. This is a more consistently reliable trend than new car registrations, as there is no seasonal pattern with imported purchases.
Used car imports do not fluctuate month on month as new registrations do.
With peak new car registrations being in January and July, whereas used imports appear to remain steady through the year. This could well indicate that Brexit is fully affecting the new vehicle trade as Irish buyers are becoming more and more inclined to go to the, arguably better, mainland for a deal.
It may also spell the end of ‘Paddy Spec’; a cost cutting tactic car manufacturers have of shipping lower spec cars to Ireland, knowing the market it closed the end user will be more willing to purchase without optional extras, such as air conditioning, leather seats and sun roofs.
While buying a car in the UK may be scary for some users, many Irish drivers can see the value in a higher spec car, for less out of pocket expenses. armed with the knowledge that a car check from www.Motorcheck.ie reveals the full history of all cars purchased in Ireland and the UK.