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New car registrations up 33 per cent in March

New car registrations were up 33 per cent (19,046) last month compared to (14,297) March 2015, according to figures released by the Society of the Irish Motor Industry (SIMI).

New car registrations for the first three months of the year are currently up 30 per cent on the same period last year. Light Commercial Vehicles (LCV) were up 54 perf cent (2,846) on March 2014 (1,852) and are up 59 per centin the first quarter compared to 2014.

Heavy Goods Vehicles (HGV) are marginally up this month 5.5 per cent (241) compared with March 2014 (236) but remain down 15 per cent year to date.

Commenting on the figures SIMI Director General, Alan Nolan said: “The increase in car registrations for the month of March is a good reflection of the growing consumer confidence in the economy which is so important for Industry. The most recent CSO Consumer Price Index had confirmed a reduction in the price of cars and in the cost of fuel, with petrol and diesel prices both down. The position for consumers has also improved in relation to the availability of finance and a wider range of finance options.  With disposable income also beginning to increase we can be confident that the improving volumes in vehicle sales should continue to grow over the coming months.”

“The LCV statistics are extremely positive reflecting the significant improvement in the business environment, particularly in the home market, which had been so impacted over recent years.”

“HGV figures are up slightly for the month of March, having been down since the start of the year, indicating that the backlog of registrations through the new Approval system is beginning to ease.”

“However, HGV registration are still down overall year to date but with the pre-registration Approval system continuing to improve we are hopeful that the HGV numbers will recover somewhat in the coming months.”