Tuesday 27 September 2016

Core buyers unaffected by sterling fluctuations

Published 29/07/2015 | 02:30

Car imports from Britain only decline when Sterling moves in value to 1.30 euros, according to a study by Cartell.ie
Car imports from Britain only decline when Sterling moves in value to 1.30 euros, according to a study by Cartell.ie

A core contingent car-buyers continue to import used vehicles despite the fluctuations in the value of sterling and euro, new research shows.

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The study by vehicle history expert Cartell.ie shows that only when sterling moves in value to the €1.30 mark has there been an apparent direct reduction in the importing or cars from Britain.

In the 12 months between June 2014 and June 2015, sterling moved from €1.25 to €1.39 and during that time imports dropped by 11pc in what is considered "a relatively normalised market".

John Byrne, legal and public relations manager with Cartell.ie says: "The results … tend to show there is a core market in Ireland for vehicle imports which is relatively insensitive to fluctuations in sterling value - even when it moves quite a bit from its average of €1.20."

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