New car registrations for the first five months of the year totalled almost 100,000, up 23 per cent on the same period last year, official statistics released on Tuesday by the Society of the Irish Motor Industry (SIMI) confirm.
New car registrations for the month of May were down -6 per cent(6,532) compared to May 2015 (6,919) while total new car sales are up 23 per cent (99,740) on the same period last year (80,889).
Light Commercial Vehicles (LCV), are currently up 8 per cent (1,839) on May 2015 (1,705) and year to date are up 27 per cent (17,561) overall. While Heavy Goods Vehicle (HGV) registrations, are also up 38 per cent for the month of May (307) 2016 compared to the same month last year (222), and are up 53 per cent year to date.
Commenting on the figurers SIMI Director General Alan Nolan said “After three years of sustained growth year on year the Industry took a pause for breath in May this year. The new shape of seasonality in the Industry is settling-in with the sector now beginning to turn its focus on the 162 period for new car sales. Since the introduction of the dual registration plate system, the percentage of new car registrations occurring in the second half of the year has been increasing year on year from 14 per cent in 2011 to 34 per cent last year. This new shape to the year does give dealers a better opportunity to focus on used car sales at this stage in the year to help clear the decks in anticipation of the next key sales period for new cars. The overall registration numbers are very strong and set the Industry on course for the best registration numbers in over seven years. While many manufacturers have started their 162 campaign offerings early, the Industry is still open for business on new as well as used cars in the remaining weeks of the 161 period so consumers can take advantage of attractive deals still to be had in June, so as always our advice is to get out there and shop around!, particularly with the Drogheda and Wexford Motor Shows taking place next weekend”.
Registrations have reached almost 100,000 in the first five months of this year which is the highest recorded sales for this time frame in the past seven years. The increased growth in registrations, for commercial vehicles, in the month of May and year to date also demonstrates that business confidence remain strong.