The number of new cars being registered in September showed a marked decrease on the previous month's total in 2017.
Official statistics released this week by the Society of the Irish Motor Industry (SIMI) show that the total new car registrations for the month of September were down 17.9% (3,201) when compared to September 2017 (3,897).
Registrations year to date are down 4.2% (123,099) on the same period last year (128,548).
New Light Commercial Vehicle registrations (LCV) were down 12.0% (1,285) on September 2017 (1,460) however are up 5.65% (23,788) year to date, while New Heavy Commercial Vehicles (HGV) have increased 40.44% for the month of September (191) when compared to the same month last year (136) and are up 4.61% (2,337) year to date.
Imported Used Cars have shown a slight decrease of 1.9% for the month of September 2018 (8,494) when compared to September 2017 (8,662) while year to date are 9.13% (77,277) ahead of 2017 (70,813).
Commenting on the figures SIMI Director General, Alan Nolan added, “The negative impact of Brexit is continuing to drive new car registrations ever lower while increasing the volume of used imports on foot of a low sterling exchange rate and the falling value of older diesel cars in the UK.”
He went on to say the industry was also facing further serious challenge with the rollout of the new Worldwide Harmonized Light Vehicles Test Procedure, an emissions testing regime that is being phased in since September 1 on all new cars.
“Under the new test regime, new cars will face an additional tax burden compared to used-imports as the stricter test will produce higher CO2 values but this only applies to new cars,” he added.
“Unless the issue is addressed in the Budget this could mean a VRT increase for motorists buying new cars.”