Saturday 22 October 2016

Surge in car imports as sterling slides

Published 07/10/2016 | 02:30

Used imports from the UK soared by 80pc last month as the value of sterling continued to fall in the wake of Brexit.

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Buyers are flocking north and across the water in search of money-saving deals on the back of the improved exchange rate.

UK imports for the first nine months of 2016 are running 38pc ahead of last year with more than 51,000 brought in by the end of September. That compares with 37,000 for the corresponding period in 2015.

Experts are predicting the figure will increase significantly over the coming months and into next year if the euro versus sterling rate remains as favourable.

One source told the Irish Independent it is possible that as many as 70,000 cars could be imported this year. That would compare with 47,798 for 2015.

The rise of imports comes as new-car sales traditionally tail off for the year. It now looks like a total of 148,000 will have been registered by year's end.

Irish Independent

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