Saturday 10 December 2016

Big rise in imports amid fears of Brexit impact

Published 29/06/2016 | 02:30

Cartell claim that the value of sterling affects the age of used imports but does not significantly impact on volume. Photo: Chris Ison/PA Wire
Cartell claim that the value of sterling affects the age of used imports but does not significantly impact on volume. Photo: Chris Ison/PA Wire

THE number of secondhand imports has increased by 22pc this year. The figures, from vehicle history experts Cartell.ie, are published as confusion and uncertainty surround the impact of Brexit on used cars here.

  • Go To

There was quite a dramatic increase in imports last month with a 51.23pc surge, Cartell.ie say. That followed a 39pc hike in April. Sales have climbed steadily since February (+7.8pc).

Cartell claim that the value of sterling affects the age of used imports but does not significantly impact on volume.

The average age so far this year is 5.19 years - down from 5.26 last year.

The company found when sterling dropped to €1.12 in 2009 (from €1.25 in 2008) the average age of vehicles also fell (from 5.88 years to 4.9 ). The report says: "Conversely in 2015, when the average price rose €0.13 from €1.24 to €1.37, the average age also rose (from 4.91 years to 5.26)."

John Byrne, Cartell.ie, says: "The results show that buyers looking abroad for a bargain are on a budget. When sterling prices are weaker we are buying younger cars, and when sterling prices are stronger the Irish buyer is importing older vehicles.

"We found no strong connection between the value of sterling and the actual numbers of vehicles imported over a seven-year period - but this study shows that sterling does still impact the Irish market. "

Irish Independent

Read More

Promoted articles

Editors Choice

Also in Life